March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions.…
March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions.…
March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the…
March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development…
March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive.…
March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic.…
March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale…
March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19…
March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year.…
March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies.…
March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired.…
March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs.…
March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until…
March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households.…
March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner.…
March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G)…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions. The sales of automobiles remained zero till July last year due to the impact of lockdown imposed since March 24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the demand for two wheelers has tripled since last July, the sales of four wheelers have not been able to improve. However, businessmen say that the demand for four wheelers has also increased after the Dashain festival. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">As the demand for private vehicles has increased unexpectedly, businessmen have been struggling to adjust the supply chain as per the demand. While the demand is increasing, there is a shortage of new vehicles in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although customers are now looking for new vehicles, businessmen have not been able to supply them. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Secretary of Nepal Automobile Dealers Association (NADA) Anup Baral said that the demand for vehicles has increased recently but they have not been able to supply the products as per the demand. He said that there is a shortage of vehicles including Suzuki, Tata, Mahindra and Hyundai in the Nepali market. “There is demand but dealers do not have vehicles,” he said, "There has been no supply for two months." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The demand for economical commercial vehicles has increased in Nepal recently. According to the Customs Department, 1,340 commercial vehicles have been imported in Nepal in the first seven months of the current fiscal year, 58 percent more than the corresponding period last year. However, as per the businessmen, the demand is higher than this figure. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Baral said, "Even though the demand has increased, sales are normal as imports have not been able to meet the demand." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He says that the attraction towards private vehicles has increased and the number of people buying four wheelers has also increased due to increasing liquidity in banks and availability of loan at cheaper interest rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Roopam Shrestha, manager of Sipradi Trading, the official dealer of Tata vehicles for Nepal, says the supply is not good. He said that the company could not send vehicles to Nepal due to the deteriorating cycle of vehicle production in India and increased demand in India as well. "Supply of passenger vehicles is normal, but the supply of commercial vehicles is not able to meet the demand," he said. Meanwhile he informed that currently customers are booking vehicles in advance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Not all parts of vehicles manufactured in India are manufactured in India. As most of the parts are imported from China and some other countries, there is a shortage of parts in India, according to Indian media. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"Even Indian companies have not been able to assemble due to lack of parts," said Kailash Babu Gelal, managing director of G Motors, the official dealer of Renault for Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to him, those who want to buy a vehicle now have to wait for at least two months after booking in advance. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-15', 'modified' => '2021-03-15', 'keywords' => '', 'description' => '', 'sortorder' => '12909', 'image' => '20210315113243_20150914010543_travel-map.jpg', 'article_date' => '2021-03-15 11:32:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13162', 'article_category_id' => '1', 'title' => 'NTB starts Branding Tourist Destinations', 'sub_title' => '', 'summary' => 'March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country. NTB has initiated branding tourist destinations starting from Lumbini, the birthplace of Gautam Buddha. The branding of destinations on the basis of the originality of the place begun on March 12.<br /> Dr Dhananjay Regmi, CEO of NTB, informed that NTB plans to initiate the branding of tourism destinations from Lumbini followed by other destinations. He informed that the concept of destination branding has been put forward to help tourists understand the destination better.<br /> "As any tourist destination has its own identity and specialty, we will continue to include it and brand it," he said, adding that "making Lumbini an attractive destination will help further identify it nationally and internationally."<br /> While branding Lumbini, the board has given priority to Japanese architect Kenjo Tangeko's architect, Brahmi script, Burmese font, and sacred garden and integrated Lumbini's natural beauty, the resounding atmosphere of 'Om Mane Padme Hum’, the pristine city of Prince Siddhartha and The Bodhi tree for the branding.<br /> Similarly, Lumbini's geography, natural beauty, pond, the historic Ashoka pillar, birds, ancient architects, forest, flora, tradition, and beautiful environment have been included in the branding, said Regmi.<br /> Nepal previously branded the entire country under the brand 'Naturally Nepal'.<br /> This time, Lumbini, one of the tourist destinations of Nepal, has been branded with colors, names, and logos to make it known in the international arena. It is believed that this will help in highlighting the importance of Lumbini globally.<br /> As Lumbini is a place of pilgrimage for Buddhists, the board expects to bring in more tourists by branding the place.<br /> More than 1.6 million domestic and about 4 million foreign tourists visit this destination annually. NTB is also preparing to brand Kirtipur and Pokhara.</span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12908', 'image' => '20210314050012_20190113122644_aaaa.jpg', 'article_date' => '2021-03-14 16:58:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13161', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Lacks Representation of Private Sector', 'sub_title' => '', 'summary' => 'March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee plays a vital role in shaping the government’s policy on budget and tax rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Failure to include representative from the private sector in the committee has worried stakeholders who believe that the recommendations made by the committee would now be limited to paper.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee which falls under the Ministry of Finance used to be actively involved in forming government policies. Recently, the committee was made an autonomous body by the government. There is also a provision to include private sector in the committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Former Secretary Mahesh Dahal currrently leads the committee while former Joint Secretary Nirmalhari Adhikari is its member. The remuneration of the chairman and member of the committee was published in Nepal Gazette as well. Salary of the committee chairman and member has been fixed at Rs 65,000 and Rs 60,000 respectively. Other allowances provided to them will be equivalent to that of a first-class government official. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee was formed on the initiative of former Finance Minister Dr Yuba Raj Khatiwada in accordance to the Development Committee Act. The Ministry of Law had put on hold the formation of the committee since a long time arguing that the Ministry of Finance had wanted to form this committee to make political appointments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to an official of law ministry, this committee was formed on the condition of having representation from the private sector. “Alhough the committee is an autonomous body, it is just another sub–committee of MoF without the representation of the private sector,” said Rajendra Malla, senior vice-president of Nepal Chamber of Commerce. “How can we be assured that our recommendations to form policies will be incorporated without our participating?” he questioned. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12907', 'image' => '20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-03-14 13:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13159', 'article_category_id' => '1', 'title' => 'Government ‘Lacks Human Resource’ to Expand Market Monitoring', 'sub_title' => '', 'summary' => 'March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at a programme organised in the capital on Friday, Director General of the Department Prakash Poudel reportedly said daily market monitoring is being conducted by three to four teams. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"We are working to streamline the market as much as possible with our capacity," the state-run national news agency RSS quoted him as saying. </span><br /> <span style="font-family:"Arial Unicode MS"">Poudel however said that lack of human resource is obstructing the expansion of the monitoring work. He pointed out the need for collaboration between the rights activists to alert consumers and the concerned agencies to establish order in the market. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Superintendent of Police at Crime Investigation Division Krishna Prasad Koirala expressed his commitment to work with the department of commerce and district administration offices to stop black marketing. </span><br /> <span style="font-family:"Arial Unicode MS"">Journalist Sagar Pandit stressed on the need to end the tendency of market monitoring only during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS"">Consumer rights activist Prem Lal Maharjan complained about the Consumers Act, 2055 not recognizing the consumer rights workers. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12906', 'image' => '20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-03-14 11:37:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13160', 'article_category_id' => '1', 'title' => 'Govt to Unveil Tourism Recovery Programmes ', 'sub_title' => '', 'summary' => 'March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">Addressing the Third National Home Stay Workshop in Birendranagar, Minister Dhakal stated that the government has been developing a plan of action on tourism revival on the basis of stakeholder participation. He stated that the Ministry is preparing new procedures to uplift tourism sector that has been paralysed by the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">"The most affected sector from coronavirus is tourism. Now, tourism business is reviving. The government will pay due attention for the development of tourism sector in partnership with the private sector," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Dhakal said home stay initiative has contributed to the country's economy. However, a lot more is to be done to attract domestic and foreign tourists with proper publicity of Nepal's diverse culture. </span><br /> <span style="font-family:"Arial Unicode MS"">Minister for Industry, Tourism, Forest and Environment of Karnali Province Nanda Singh Budha stated the relevance of home stay in Karnali on the backdrop that there are no big hotels. </span><br /> <span style="font-family:"Arial Unicode MS"">More than 200 home stay operators from across the country had gathered in the city of Birendranagar for the workshop. – RSS</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12905', 'image' => '20210314122521_20210217044838_20201102015340_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-03-14 12:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13158', 'article_category_id' => '1', 'title' => 'Commercial electric vehicles financing still a new market for financial institutions', 'sub_title' => 'Bank and financial institutions reluctant to finance EVs for public transportation, citing lack of reliable sale market in case of a loan default ', 'summary' => 'March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.', 'content' => '<p><em><strong>Rebati Adhikari</strong></em><br /> March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.<br /> Most of the commercial banks are disbursing loans for purchase of private electric vehicles. But they are wary about financing electric vehicles used in public transportation, as they deem the "segment to be risky".</p> <p>"We have reservations about financing public electric vehicles because of lack of reliable resale market in case of a loan default," said Chandani Shrestha, Head of Retail Lending of Nabil Bank. "We are also worried that most of the electric vehicles that are being imported to provide public transport service are not manufactured by established auto brands. This further enhances the risk factor."</p> <p>In the developed world, more and more countries are replacing public transport powered by fossil fuel with electric vehicles. This not only reduces pollution but lowers the operation cost, as maintenance of electric vehicles is lower than vehicles that operate on petrol or diesel. Nepal is intending to promote the use of public electric vehicles not just to reap these benefits but to make use of surplus electricity once 456-megawatt Upper Tamakoshi Hydroelectric Project starts operation later this fiscal year. As Nepal is bracing for surplus electricity generation, the government has set a target of raising the share of electric vehicles in total vehicles to 50 percent by 2050.</p> <p>Currently, electric vehicles used for public transport are subject to 10 percent import duty and 13 percent value added tax (VAT). These taxes are way lower than 80 percent customs duty and 13 percent VAT that the government levies on imports of petrol or diesel fuelled vehicles used for public transportation in addition to excise duties levied on the vehicles based on their engine capacity.</p> <p>Considering this, it makes a lot of sense to operate electric vehicles to provide public transport service. “But banks are not promoting electric vehicles at all. Neither do they agree to provide lending facility nor do they reject the proposal. They keep on dilly-dallying," said Besh Bahadur Thapa, president of Sundar Yatayat, a private sector electric public transport company, which is operating five electric buses on various routes in Kathmandu valley.</p> <p>Banks generally approve auto loans within two working days after receiving all required documents. Once the loan application is approved, the money is released to purchase the vehicle. "But in the case of electric public vehicles, banks ask us to import the vehicles first. They say they will then assess the situation and see whether loans could be disbursed," said Umesh Raj Shrestha, President of Electric Vehicle Association of Nepal.</p> <p>Although the government has embraced the policy of promoting use of electric vehicles, many banks in Nepal have not formulated a standard to finance electric vehicles used in public transport.</p> <p>“Electric vehicle market is in a nascent stage. So we do not have a separate policy for electric vehicles that are used to provide public transportation service," said Manjita Poudyal, Sukedhara Branch Manager of Himalayan Bank.</p> <p>Most of the commercial banks in Nepal think twice before financing public transport vehicles because of soaring default rate. Many banks have seen their auto loans channeled towards public transport sector turn sour, as owners fled, leaving the banks scrambling to find vehicles which were pledged as collateral.<br /> "EV is indeed the future. But we have a bad experience of default in public transport sector. So, we intend to enter this segment only after carrying out a detailed study,” said a senior official at Everest Bank Limited on condition of anonymity.</p> <p>Because of all these hurdles, the growth of electric public vehicles is extremely low. Around five buses, 35,000 rickshaws and 750 Safa Tempos (clean three-wheelers) are plying on the roads.</p> <p>Nepal Rastra Bank (NRB) has fixed the loan-to-value ratio for electric private vehicles at 80 percent. This means that a bank can provide loan amount up to 80 percent of the valuation of the electric private vehicle.</p> <p>But there is no such provision for electric public vehicles.</p> <p>“Since the government has embraced the plan to expand share of electric vehicles market, it is likely that the government will introduce such provision from the next year,” said Narayan Prasad Pokhrel, Deputy Spokesperson of NRB.</p> <p> </p> ', 'published' => true, 'created' => '2021-03-13', 'modified' => '2021-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '12904', 'image' => '20210313015911_Commercial EVs.jpg', 'article_date' => '2021-03-13 13:50:11', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13157', 'article_category_id' => '1', 'title' => '5 New Medium-Scale Hotels Registered amid Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.<br /> The new hotels have been registered between March 15, 2020 and February 18, 2021. According to the department, the hotels registered with an estimated investment of Rs 1.27 billion will provide employment opportunities to 245 individuals. <br /> Meanwhile, Hotel Mechi Crown, the first five-star hotel of deluxe category in Nepal, opened its service during the time of pandemic on August 18, 2020. The five-star deluxe hotel established with an investment of Rs 1.5 billion commenced its operation when hotels across the country were bearing the brunt of the Covid-19 pandemic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Similarly, Pokhara-based Hotel Shangrila Village and Hotel Landmark have started providing service after acquiring four-star status while two two-star hotels, Hotel Lotus Gems, Bouddha and Hotel Bhadgon Barahisthan, commenced their operation amid the pandemic.<br /> Despite the difficult circumstances caused by Covid-19, the opening of new hotels like the 5-star deluxe Hotel Mechi Crown has made many confused about the reason for the hotel to initiate its operation in such an unprecedented situation. Meanwhile, some estimates that the investors may have done so for the long-term gain.<br /> “Because they are looking at the long-term potential of their projects, they are banking on the resilience of the people and their want to travel and have new experiences. We had the Visit Nepal 2020 Campaign, which was unable to come to fruition but hopefully, we will be able to promote Nepal as a safe and wonderful destination to visit again," Shreejana Rana, president of the Hotel Association of Nepal (HAAN), shared.<br /> However, Binayak Shah, vice president of HAAN, informed that most of the new hotels commenced their operation were in the construction phase before the pandemic started. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"They are opening to use the equipment that is wearing out and to train their staffs. There are no new investments after the outbreak of the pandemic in the hotel sector. There has never been a situation like this in the seven decades-long history of hotel business in Nepal because Covid-19 has affected the entire global tourism. Tourist arrival from our prime source markets including, the US, Europe, and Australia, is still uncertain. It won't return to normalcy for the next two years unless everyone is vaccinated. New investment in hotel is unlikely until things become normal," Shah opines.<br /> Pabitra Karki, executive chairman of Hotel Mechi Crown, in response to queries about opening the hotel during the current crisis, informed that the hotel is currently in the pre-trial phase for testing. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"We had planned to start the operation in April last year. However, we postponed it due to Covid-19. We made the soft launch in August for trial, as we need to pass the requirement for meeting the standards of the 5-star deluxe hotel. We have decided to make the official launch in April after passing the trial," he shared with New Business Age.<br /> The hotel, located in Mechinagar, close to the Indian border, will cater to Indian casino goers, INGO staff, other tourists as well as the locals for marriage ceremonies.<br /> Executive Chairman of Hotel Mechi Crown, Karki, informed that the hotel is slowly picking up pace. "Despite being in the trial phase, we have been receiving an encouraging number of visitors. Our banquets and restaurants are busy hosting locals for various events. It has helped us to keep afloat to manage the operating expenses. Likewise, we are in the final phase of acquiring the license for operating a casino. The situation is encouraging, and we are optimistic for positive business after full-fledged operation," he further said. <br /> In total, 75 percent investment of the hotel is financed by Nepal Investment Bank, while five investors have put in the remaining 25 percent capital. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Investment in hotels was burgeoning in Nepal before the impact of Covid-19. According to the data of the Department of Industries, 29 new large-scale hotel projects got registered between April 2016 and February 2020 with a staggering investment of Rs 28.9 billion.<br /> According to hoteliers, the hotel business is burgeoning in Nepal due to the growth of tourists before Covid-19, the tourism promotion campaign, and the growth of domestic tourism. They also inform that the growth in arrival of foreigners, due to the Visit Nepal 2020 campaign, recognition from Trip Advisor and Lonely Planet, and Nepal's participation in various international tourism trade exhibitions, including ITB Berlin, had encouraged investors to invest in the hotel business.<br /> Covid-19 has impacted every sector and the hotel industry is not an exception. </span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12903', 'image' => '20210312015023_20201223013206_20200504104410_20190511105700_Clipboard37 2.jpg', 'article_date' => '2021-03-12 13:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13156', 'article_category_id' => '1', 'title' => 'China Becoming Largest Investor in Nepal', 'sub_title' => 'Foreign Investment Commitment Declines ', 'summary' => 'March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. According to the Department of Industry, foreign investment commitment worth Rs 25.31 billion has been made in the first seven months of the current fiscal year, which is Rs 3.15 billion less than the corresponding period of the previous fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The foreign investment commitment in the first seven months of the last fiscal year was Rs 28.46 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Last year, the department approved investments from 15 countries, but this year it has approved investments from 13 countries. During the review period of current FY, China has pledged foreign investment commitment of Rs 18.16 billion, which is 71 percent of the total commitment. Chinese investors have granted permission to invest for the establishment of 105 different industries. The department has been informed that 3,081 people will get employment after the establishment of these industries. Lately, China has become the largest investor in Nepal's industrial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Director General of the Department, Jiv Lal Bhusal, said that Chinese investment has been increasing in the last few years. “Even during the coronavirus pandemic this year, China has made more investment commitments than the previous year,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He said that although some of the commitments were reduced due to the pandemic, the commitment to industrial sector has not been significantly affected this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the department, investment worth Rs 17.29 billion was approved from China in the corresponding period of last fiscal year. China has committed to investing in sectors such as tourism, industry, and agriculture, the department said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">India is another major investor after China. During this period, the department has approved investment of Rs 3.86 billion from India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitment made by India in the first seven months of last FY was Rs 2.93 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the third most investment commitment that the country received this year is England with Rs 3 billion, the fourth from Singapore with Rs 1.65 billion and America in the fifth with Rs 1.57 billion commitment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitments in the industrial sector have also been received from Malaysia, Belgium, Mexico, Poland, South Korea, the Netherlands and the United Kingdom. According to Bhusal, the country has received the investment commitment in tourism, information and communication and energy sectors during this period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12902', 'image' => '20210312011313_20170512120504_co.jpg', 'article_date' => '2021-03-12 13:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13155', 'article_category_id' => '1', 'title' => 'Preparations Underway to Establish New Non-life Insurance Company', 'sub_title' => '', 'summary' => 'March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The Insurance Board had stopped issuing license to both life insurance companies and non life insurance companies some three years ago. However, Shreeman Karki, former executive director of the Insurance Board, is preparing to establish a new non-life insurance company named Genuine Non-Life Insurance Company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The proposed company will have a capital of Rs 1 billion. Forty percent of the capital, amounting to Rs 400 million, will be owned by private sector. Listed companies and the public will have share ownership of 30 percent each amounting to Rs 300 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The company is preparing to issue IPO after it starts operation, informed Karki. The private sector has already pledged an investment up to Rs 400 million, said Karki. Listed companies have been notified of the investment proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Karki said that the company has given priority to small investors instead of big ones. Companies can make investment ranging from Rs 100,000 to Rs 10 million. “We have prepared investment modality preferring small investors and investment has been collected accordingly,” said Karki, adding, “This model has been adopted to set an example of establishing a big company from small ones.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The preparation to establish the company is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">“The Insurance Board has decided not to issue a new license but we will try to convince it with our proposal and register the company,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"> “The new company will particularly focus on health insurance as it has been disregarded by other insurance companies. We expect to earn profit gradually after few years of establishment,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Along with the health insurance, the company aims to focus on agriculture insurance, and has plans to make payment cashless and make health insurance claims hassle-free.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12901', 'image' => '20210312125256_20200223013317_aaaa.jpg', 'article_date' => '2021-03-12 12:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13154', 'article_category_id' => '1', 'title' => ' BP Highway Being Repaired ', 'sub_title' => '', 'summary' => 'March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. According to the state-owned national news agency RSS, overlay will be carried out on the road section constructed by the Japanese International Cooperation Agency (JICA). </span><br /> <span style="font-family:"Arial Unicode MS"">The Dhulikhel-Sindhuli-Bardibas Road Project informed that the maintenance of around 100-km of the road will be done in this fiscal year. Project Chief Surya Bahadur Bhatt said, "Although regular and occasion maintenances were conducted earlier too, the overlay is being done this year. The road is being repaired in a large scale." </span><br /> <span style="font-family:"Arial Unicode MS"">Nepali labours are employed in most of the sections for repair. In addition to the money collected with road tax by Roads Board Nepal, the maintenance is being carried out with the financial assistance of the World Bank, Bhatt added. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the overlay has been on the 5-km long Nepalthok-Dhulikhel section. Similarly, the plan is afoot to overlay 35-km Chiyabari section of Khurkot, Sindhuli. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that single surface tracing has been complete along 10-km length from Nepalthok to Dhulikhel. Contract for 20-km overlay from Nepalthok to Khurkot has been signed, but the overlay will be completed only next year. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the repair is ongoing at 5-km Bhakundebensi section, RSS reported citing the project. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12900', 'image' => '20210312104507_20210128070713_IMG_2102.JPG', 'article_date' => '2021-03-12 10:43:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13153', 'article_category_id' => '1', 'title' => 'Preparations being made to Establish Women’s Industrial Village ', 'sub_title' => '', 'summary' => 'March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Under this initiative, a ‘Women’s Entrepreneurs Green Rural Area’ is being established in Panchkhal, Kavrepalanchok in collaboration with the central and local governments. For the first time in Nepal, Women’s Industrial Village is being established to develop women entrepreneurship institutionally. The land has been leased for 30 years in Panchkhal on the initiative of various women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Pramila Rijal, a woman entrepreneur and chairperson of the South Asian Women Development Forum (SAWDF), said that the detailed project report (DPR) for the establishment of the industrial village is being prepared. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">She further informed that the industrial village will be operational within two years and 12 industries will be established there. Industries run solely be women will focus on agricultural production, fruit production and processing. Preparations have also been made to bring new technology, training, and online marketing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Even if the priority is given to local women, those who want to set up enterprises and industries will also be able to participate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that there is more potential in the agricultural sector in Nepal, she said that the industrial village targeting women entrepreneurs is being established for the first time in the country. "Agriculture is always needed. We can commercialize its products and take them to the market," she said, adding, “Billions of rupees have been spent on importing these goods, so it is necessary to replace them and become self-reliant.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs say that the implementation of such scheme in Nepal can help in the development of women entrepreneurship and make women financially self-reliant as such concepts have been found to have supported the development of women entrepreneurship in India as well. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The government has already declared 58 industrial villages across the country since the last fiscal year to create employment by operating micro, cottage and small scale industries through local resources, raw materials, technology, skills and investment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that the productivity can be increased by integrating and managing the scattered small scale industries, the government has been declaring industrial villages. It has been said that such villages are being established targeting only women to develop women entrepreneurship, ease their economic condition and increase production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12899', 'image' => '20210311022059_1615417848.11.jpg', 'article_date' => '2021-03-11 14:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13152', 'article_category_id' => '1', 'title' => 'Handover of Khimti Hydropower Project Lingers on', 'sub_title' => '', 'summary' => 'March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August after the two sides could not reach an understanding regarding the handover of the project to the government within the previous deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The two sides had earlier reached a short-term understanding to continue operating the project although the share transfer process could not take place. The previous agreement expired in mid-February.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of NEA Hitendra Dev Shakya confirmed that the interim agreement has been extended until mid-August. The interim agreement has a provision under which NEA will be allowed to purchase power from the company at Rs 2 per unit although the Power Purchase Agreement (PPA) with the company expired during last July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This is the first hydropower company that is about to be handed over to the government by the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement between the Government of Nepal and the promoter company, 50 percent shares of the company should have been transferred to the government by July 11 last year. However, the deadline was extended till mid-February and again till mid-August as the share transfer process could not be completed within the stipulated date. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The project which is being run by Himal Power Company since July 2000 is the first hydropower project built with investment from the private sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The then government had signed an agreement with the developers to transfer 50 percent of shares to the government after 20 years of operation. The project reached the milestone of generating electricity for 20 years on July 11 last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement, the NEA will own 100 percent shares of the project in the next 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">For the completion of share transfer process, stakeholders including the NEA and the promoters of the project should establish a joint venture. Then the new entity will have to finalize the Power Purchasing Agreement (PPA) with the NEA. However, the joint venture company is yet to be established and the issue of PPA is also pending.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12898', 'image' => '20210311123540_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-03-11 12:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13151', 'article_category_id' => '1', 'title' => 'Residents of Kathmandu to get Water from Melamchi at their Households Soon', 'sub_title' => '', 'summary' => 'March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Kathmandu Upatyaka Khanepani Limited (KUKL) has made a plan to distribute drinking water from the fourth week of March. The ongoing tunnel test may take additional 2-3 months to complete the entire task. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KUKL In-charge Milan Shakya shared that testing of water processing center would be undertaken after the completion of the tunnel test. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Water will be channelized to both new and old ponds after the completion of test of the center. The water channelized to the new ponds would be used to test supply pipes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"The water channelized to the old ponds would be distributed to the people through old pipes," he shakya. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Melamchi Water Supply Project, water would be channelized to nine newly-constructed ponds and the six existing ponds for the distribution of Melamchi water in Kathmandu Valley. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12897', 'image' => '20210311104831_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-03-11 10:47:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13150', 'article_category_id' => '1', 'title' => ' Seven Containers of Goods Entering Nepal from China Border Points Daily ', 'sub_title' => '', 'summary' => 'March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. </span><br /> <span style="font-family:"Arial Unicode MS"">Seven containers of goods have been imported daily from the border points with China with the resumption of the transit points, the state-owned national news agency RSS reported citing the concerned customs offices. Goods from readymade clothes to construction materials are being imported from Tatopani Customs Office, Sindhupalchowk, and Rasuwagadhi Customs Office in recent days, according to RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of Rasuwa Customs Office, Ram Prasad Regmi, said that seven container goods are being imported everyday with the resumption of the border points., "Although all staff working at border points have inoculated vaccine against COVID-19, there is no smooth import of goods due to obstruction towards the Chinese side," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">There is still obstruction towards the Chinese side even after Rasuwa district has become coronavirus free district since two months, added Regmi. </span><br /> <span style="font-family:"Arial Unicode MS"">The border point, which was closed for a long time due to coronavirus, has come into one-way operation from November, 2020. </span><br /> <span style="font-family:"Arial Unicode MS"">Similarly, Chief of Tatopani Customs Office, Lal Bahadur Khatri, shared that seven containers have been entering Nepal everyday via the border point, adding that out of seven containers, five containers are carrying chemical fertilizer. </span><br /> <span style="font-family:"Arial Unicode MS"">Tatopani border point, closed since a long time, had resumed from October 29, 2020. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:"Arial Unicode MS"">Export at Standstill </span></strong><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill despite some import from Rasuwagadhi and Tatopani border points. Export from Rasuwagadhi border point, which has been halted since the last Chinese New Year, has not resumed yet. </span><br /> <span style="font-family:"Arial Unicode MS"">Regmi added, "Though we have taken efforts for resumption of export time and again, it has remained halted for the past one year as Chinese side did not pay any interest towards it." </span><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill at Rasuwagadhi border point from one year and Tatopani border point since the catastrophic earthquakes of 2015. </span><br /> <span style="font-family:"Arial Unicode MS"">-</span></span></span></p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12896', 'image' => '20210310035632_20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2021-03-10 15:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13149', 'article_category_id' => '1', 'title' => 'Government Mulls Sending Workers to Qatar on G2G Model ', 'sub_title' => '', 'summary' => 'March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The move comes after some manpower companies started running illegal businesses by promising to recruit people in the police force of Qatar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">According to a source at the Ministry of Labor, Employment and Social Security, the government has already started homework to send human resource to Qatar required for the upcoming FIFA World Cup through the G2G model. According to sources, there has been an attempt to hold diplomatic talks with Qatar’s government. But the government has not yet made any formal decision regarding this. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The Ministry of Labor is preparing to send workers on behalf of the government by amending the labor agreement with Qatar. "The ministry is discussing the matter with an expert team soon," a source at the ministry said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">On Sunday, Labor Minister Gauri Shankar Chaudhary had revealed in a program that preparations to send workers to Qatar through the G2G system is underway. He said that the government has discussed the issue with Qatar’s ambassador to Nepal. According to the minister, agents are planning to send millions of people to the Qatar police. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Government investigation has found that agents are taking Nepali nationals to Qatar for job in the police force of the Gulf nations through transit points of India and Sri Lanka. Officials at the ministry say that homework has to be done to adopt the G2G system to reduce such process. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Kumar Dahal, director general of the Department of Foreign Employment, said that although the issue of sending workers through G2G and B2G has not yet been decided, discussions have moved forward in a fast pace and a decision will be taken soon. Foreign employment entrepreneurs have objected to the government's plan to send workers to Qatar through the G2G system. </span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Sujit Shrestha, general secretary of Nepal Foreign Employment Agencies Association, said that there would be strong protest if the G2G agreement is signed. "If the government is going to send workers for employment themselves, why did it give us the license?" he said, adding, "We should be allowed to work.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">He said that the tendency of the government to take over the business was against the law as the entrepreneurs have already prepared the entire infrastructure by investing in this sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The government raided a number of manpower companies a few days ago after finding out that illegal interviews were being taken with the intention of extorting large sums of money. Ministry sources claim that the government has made preparations to send workers themselves after the new revelations. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12895', 'image' => '20210310025801_Flag-Pins-Nepal-Qatar_600x600.jpg', 'article_date' => '2021-03-10 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions. The sales of automobiles remained zero till July last year due to the impact of lockdown imposed since March 24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the demand for two wheelers has tripled since last July, the sales of four wheelers have not been able to improve. However, businessmen say that the demand for four wheelers has also increased after the Dashain festival. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">As the demand for private vehicles has increased unexpectedly, businessmen have been struggling to adjust the supply chain as per the demand. While the demand is increasing, there is a shortage of new vehicles in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although customers are now looking for new vehicles, businessmen have not been able to supply them. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Secretary of Nepal Automobile Dealers Association (NADA) Anup Baral said that the demand for vehicles has increased recently but they have not been able to supply the products as per the demand. He said that there is a shortage of vehicles including Suzuki, Tata, Mahindra and Hyundai in the Nepali market. “There is demand but dealers do not have vehicles,” he said, "There has been no supply for two months." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The demand for economical commercial vehicles has increased in Nepal recently. According to the Customs Department, 1,340 commercial vehicles have been imported in Nepal in the first seven months of the current fiscal year, 58 percent more than the corresponding period last year. However, as per the businessmen, the demand is higher than this figure. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Baral said, "Even though the demand has increased, sales are normal as imports have not been able to meet the demand." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He says that the attraction towards private vehicles has increased and the number of people buying four wheelers has also increased due to increasing liquidity in banks and availability of loan at cheaper interest rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Roopam Shrestha, manager of Sipradi Trading, the official dealer of Tata vehicles for Nepal, says the supply is not good. He said that the company could not send vehicles to Nepal due to the deteriorating cycle of vehicle production in India and increased demand in India as well. "Supply of passenger vehicles is normal, but the supply of commercial vehicles is not able to meet the demand," he said. Meanwhile he informed that currently customers are booking vehicles in advance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Not all parts of vehicles manufactured in India are manufactured in India. As most of the parts are imported from China and some other countries, there is a shortage of parts in India, according to Indian media. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"Even Indian companies have not been able to assemble due to lack of parts," said Kailash Babu Gelal, managing director of G Motors, the official dealer of Renault for Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to him, those who want to buy a vehicle now have to wait for at least two months after booking in advance. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-15', 'modified' => '2021-03-15', 'keywords' => '', 'description' => '', 'sortorder' => '12909', 'image' => '20210315113243_20150914010543_travel-map.jpg', 'article_date' => '2021-03-15 11:32:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13162', 'article_category_id' => '1', 'title' => 'NTB starts Branding Tourist Destinations', 'sub_title' => '', 'summary' => 'March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country. NTB has initiated branding tourist destinations starting from Lumbini, the birthplace of Gautam Buddha. The branding of destinations on the basis of the originality of the place begun on March 12.<br /> Dr Dhananjay Regmi, CEO of NTB, informed that NTB plans to initiate the branding of tourism destinations from Lumbini followed by other destinations. He informed that the concept of destination branding has been put forward to help tourists understand the destination better.<br /> "As any tourist destination has its own identity and specialty, we will continue to include it and brand it," he said, adding that "making Lumbini an attractive destination will help further identify it nationally and internationally."<br /> While branding Lumbini, the board has given priority to Japanese architect Kenjo Tangeko's architect, Brahmi script, Burmese font, and sacred garden and integrated Lumbini's natural beauty, the resounding atmosphere of 'Om Mane Padme Hum’, the pristine city of Prince Siddhartha and The Bodhi tree for the branding.<br /> Similarly, Lumbini's geography, natural beauty, pond, the historic Ashoka pillar, birds, ancient architects, forest, flora, tradition, and beautiful environment have been included in the branding, said Regmi.<br /> Nepal previously branded the entire country under the brand 'Naturally Nepal'.<br /> This time, Lumbini, one of the tourist destinations of Nepal, has been branded with colors, names, and logos to make it known in the international arena. It is believed that this will help in highlighting the importance of Lumbini globally.<br /> As Lumbini is a place of pilgrimage for Buddhists, the board expects to bring in more tourists by branding the place.<br /> More than 1.6 million domestic and about 4 million foreign tourists visit this destination annually. NTB is also preparing to brand Kirtipur and Pokhara.</span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12908', 'image' => '20210314050012_20190113122644_aaaa.jpg', 'article_date' => '2021-03-14 16:58:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13161', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Lacks Representation of Private Sector', 'sub_title' => '', 'summary' => 'March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee plays a vital role in shaping the government’s policy on budget and tax rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Failure to include representative from the private sector in the committee has worried stakeholders who believe that the recommendations made by the committee would now be limited to paper.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee which falls under the Ministry of Finance used to be actively involved in forming government policies. Recently, the committee was made an autonomous body by the government. There is also a provision to include private sector in the committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Former Secretary Mahesh Dahal currrently leads the committee while former Joint Secretary Nirmalhari Adhikari is its member. The remuneration of the chairman and member of the committee was published in Nepal Gazette as well. Salary of the committee chairman and member has been fixed at Rs 65,000 and Rs 60,000 respectively. Other allowances provided to them will be equivalent to that of a first-class government official. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee was formed on the initiative of former Finance Minister Dr Yuba Raj Khatiwada in accordance to the Development Committee Act. The Ministry of Law had put on hold the formation of the committee since a long time arguing that the Ministry of Finance had wanted to form this committee to make political appointments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to an official of law ministry, this committee was formed on the condition of having representation from the private sector. “Alhough the committee is an autonomous body, it is just another sub–committee of MoF without the representation of the private sector,” said Rajendra Malla, senior vice-president of Nepal Chamber of Commerce. “How can we be assured that our recommendations to form policies will be incorporated without our participating?” he questioned. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12907', 'image' => '20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-03-14 13:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13159', 'article_category_id' => '1', 'title' => 'Government ‘Lacks Human Resource’ to Expand Market Monitoring', 'sub_title' => '', 'summary' => 'March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at a programme organised in the capital on Friday, Director General of the Department Prakash Poudel reportedly said daily market monitoring is being conducted by three to four teams. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"We are working to streamline the market as much as possible with our capacity," the state-run national news agency RSS quoted him as saying. </span><br /> <span style="font-family:"Arial Unicode MS"">Poudel however said that lack of human resource is obstructing the expansion of the monitoring work. He pointed out the need for collaboration between the rights activists to alert consumers and the concerned agencies to establish order in the market. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Superintendent of Police at Crime Investigation Division Krishna Prasad Koirala expressed his commitment to work with the department of commerce and district administration offices to stop black marketing. </span><br /> <span style="font-family:"Arial Unicode MS"">Journalist Sagar Pandit stressed on the need to end the tendency of market monitoring only during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS"">Consumer rights activist Prem Lal Maharjan complained about the Consumers Act, 2055 not recognizing the consumer rights workers. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12906', 'image' => '20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-03-14 11:37:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13160', 'article_category_id' => '1', 'title' => 'Govt to Unveil Tourism Recovery Programmes ', 'sub_title' => '', 'summary' => 'March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">Addressing the Third National Home Stay Workshop in Birendranagar, Minister Dhakal stated that the government has been developing a plan of action on tourism revival on the basis of stakeholder participation. He stated that the Ministry is preparing new procedures to uplift tourism sector that has been paralysed by the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">"The most affected sector from coronavirus is tourism. Now, tourism business is reviving. The government will pay due attention for the development of tourism sector in partnership with the private sector," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Dhakal said home stay initiative has contributed to the country's economy. However, a lot more is to be done to attract domestic and foreign tourists with proper publicity of Nepal's diverse culture. </span><br /> <span style="font-family:"Arial Unicode MS"">Minister for Industry, Tourism, Forest and Environment of Karnali Province Nanda Singh Budha stated the relevance of home stay in Karnali on the backdrop that there are no big hotels. </span><br /> <span style="font-family:"Arial Unicode MS"">More than 200 home stay operators from across the country had gathered in the city of Birendranagar for the workshop. – RSS</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12905', 'image' => '20210314122521_20210217044838_20201102015340_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-03-14 12:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13158', 'article_category_id' => '1', 'title' => 'Commercial electric vehicles financing still a new market for financial institutions', 'sub_title' => 'Bank and financial institutions reluctant to finance EVs for public transportation, citing lack of reliable sale market in case of a loan default ', 'summary' => 'March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.', 'content' => '<p><em><strong>Rebati Adhikari</strong></em><br /> March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.<br /> Most of the commercial banks are disbursing loans for purchase of private electric vehicles. But they are wary about financing electric vehicles used in public transportation, as they deem the "segment to be risky".</p> <p>"We have reservations about financing public electric vehicles because of lack of reliable resale market in case of a loan default," said Chandani Shrestha, Head of Retail Lending of Nabil Bank. "We are also worried that most of the electric vehicles that are being imported to provide public transport service are not manufactured by established auto brands. This further enhances the risk factor."</p> <p>In the developed world, more and more countries are replacing public transport powered by fossil fuel with electric vehicles. This not only reduces pollution but lowers the operation cost, as maintenance of electric vehicles is lower than vehicles that operate on petrol or diesel. Nepal is intending to promote the use of public electric vehicles not just to reap these benefits but to make use of surplus electricity once 456-megawatt Upper Tamakoshi Hydroelectric Project starts operation later this fiscal year. As Nepal is bracing for surplus electricity generation, the government has set a target of raising the share of electric vehicles in total vehicles to 50 percent by 2050.</p> <p>Currently, electric vehicles used for public transport are subject to 10 percent import duty and 13 percent value added tax (VAT). These taxes are way lower than 80 percent customs duty and 13 percent VAT that the government levies on imports of petrol or diesel fuelled vehicles used for public transportation in addition to excise duties levied on the vehicles based on their engine capacity.</p> <p>Considering this, it makes a lot of sense to operate electric vehicles to provide public transport service. “But banks are not promoting electric vehicles at all. Neither do they agree to provide lending facility nor do they reject the proposal. They keep on dilly-dallying," said Besh Bahadur Thapa, president of Sundar Yatayat, a private sector electric public transport company, which is operating five electric buses on various routes in Kathmandu valley.</p> <p>Banks generally approve auto loans within two working days after receiving all required documents. Once the loan application is approved, the money is released to purchase the vehicle. "But in the case of electric public vehicles, banks ask us to import the vehicles first. They say they will then assess the situation and see whether loans could be disbursed," said Umesh Raj Shrestha, President of Electric Vehicle Association of Nepal.</p> <p>Although the government has embraced the policy of promoting use of electric vehicles, many banks in Nepal have not formulated a standard to finance electric vehicles used in public transport.</p> <p>“Electric vehicle market is in a nascent stage. So we do not have a separate policy for electric vehicles that are used to provide public transportation service," said Manjita Poudyal, Sukedhara Branch Manager of Himalayan Bank.</p> <p>Most of the commercial banks in Nepal think twice before financing public transport vehicles because of soaring default rate. Many banks have seen their auto loans channeled towards public transport sector turn sour, as owners fled, leaving the banks scrambling to find vehicles which were pledged as collateral.<br /> "EV is indeed the future. But we have a bad experience of default in public transport sector. So, we intend to enter this segment only after carrying out a detailed study,” said a senior official at Everest Bank Limited on condition of anonymity.</p> <p>Because of all these hurdles, the growth of electric public vehicles is extremely low. Around five buses, 35,000 rickshaws and 750 Safa Tempos (clean three-wheelers) are plying on the roads.</p> <p>Nepal Rastra Bank (NRB) has fixed the loan-to-value ratio for electric private vehicles at 80 percent. This means that a bank can provide loan amount up to 80 percent of the valuation of the electric private vehicle.</p> <p>But there is no such provision for electric public vehicles.</p> <p>“Since the government has embraced the plan to expand share of electric vehicles market, it is likely that the government will introduce such provision from the next year,” said Narayan Prasad Pokhrel, Deputy Spokesperson of NRB.</p> <p> </p> ', 'published' => true, 'created' => '2021-03-13', 'modified' => '2021-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '12904', 'image' => '20210313015911_Commercial EVs.jpg', 'article_date' => '2021-03-13 13:50:11', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13157', 'article_category_id' => '1', 'title' => '5 New Medium-Scale Hotels Registered amid Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.<br /> The new hotels have been registered between March 15, 2020 and February 18, 2021. According to the department, the hotels registered with an estimated investment of Rs 1.27 billion will provide employment opportunities to 245 individuals. <br /> Meanwhile, Hotel Mechi Crown, the first five-star hotel of deluxe category in Nepal, opened its service during the time of pandemic on August 18, 2020. The five-star deluxe hotel established with an investment of Rs 1.5 billion commenced its operation when hotels across the country were bearing the brunt of the Covid-19 pandemic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Similarly, Pokhara-based Hotel Shangrila Village and Hotel Landmark have started providing service after acquiring four-star status while two two-star hotels, Hotel Lotus Gems, Bouddha and Hotel Bhadgon Barahisthan, commenced their operation amid the pandemic.<br /> Despite the difficult circumstances caused by Covid-19, the opening of new hotels like the 5-star deluxe Hotel Mechi Crown has made many confused about the reason for the hotel to initiate its operation in such an unprecedented situation. Meanwhile, some estimates that the investors may have done so for the long-term gain.<br /> “Because they are looking at the long-term potential of their projects, they are banking on the resilience of the people and their want to travel and have new experiences. We had the Visit Nepal 2020 Campaign, which was unable to come to fruition but hopefully, we will be able to promote Nepal as a safe and wonderful destination to visit again," Shreejana Rana, president of the Hotel Association of Nepal (HAAN), shared.<br /> However, Binayak Shah, vice president of HAAN, informed that most of the new hotels commenced their operation were in the construction phase before the pandemic started. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"They are opening to use the equipment that is wearing out and to train their staffs. There are no new investments after the outbreak of the pandemic in the hotel sector. There has never been a situation like this in the seven decades-long history of hotel business in Nepal because Covid-19 has affected the entire global tourism. Tourist arrival from our prime source markets including, the US, Europe, and Australia, is still uncertain. It won't return to normalcy for the next two years unless everyone is vaccinated. New investment in hotel is unlikely until things become normal," Shah opines.<br /> Pabitra Karki, executive chairman of Hotel Mechi Crown, in response to queries about opening the hotel during the current crisis, informed that the hotel is currently in the pre-trial phase for testing. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"We had planned to start the operation in April last year. However, we postponed it due to Covid-19. We made the soft launch in August for trial, as we need to pass the requirement for meeting the standards of the 5-star deluxe hotel. We have decided to make the official launch in April after passing the trial," he shared with New Business Age.<br /> The hotel, located in Mechinagar, close to the Indian border, will cater to Indian casino goers, INGO staff, other tourists as well as the locals for marriage ceremonies.<br /> Executive Chairman of Hotel Mechi Crown, Karki, informed that the hotel is slowly picking up pace. "Despite being in the trial phase, we have been receiving an encouraging number of visitors. Our banquets and restaurants are busy hosting locals for various events. It has helped us to keep afloat to manage the operating expenses. Likewise, we are in the final phase of acquiring the license for operating a casino. The situation is encouraging, and we are optimistic for positive business after full-fledged operation," he further said. <br /> In total, 75 percent investment of the hotel is financed by Nepal Investment Bank, while five investors have put in the remaining 25 percent capital. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Investment in hotels was burgeoning in Nepal before the impact of Covid-19. According to the data of the Department of Industries, 29 new large-scale hotel projects got registered between April 2016 and February 2020 with a staggering investment of Rs 28.9 billion.<br /> According to hoteliers, the hotel business is burgeoning in Nepal due to the growth of tourists before Covid-19, the tourism promotion campaign, and the growth of domestic tourism. They also inform that the growth in arrival of foreigners, due to the Visit Nepal 2020 campaign, recognition from Trip Advisor and Lonely Planet, and Nepal's participation in various international tourism trade exhibitions, including ITB Berlin, had encouraged investors to invest in the hotel business.<br /> Covid-19 has impacted every sector and the hotel industry is not an exception. </span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12903', 'image' => '20210312015023_20201223013206_20200504104410_20190511105700_Clipboard37 2.jpg', 'article_date' => '2021-03-12 13:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13156', 'article_category_id' => '1', 'title' => 'China Becoming Largest Investor in Nepal', 'sub_title' => 'Foreign Investment Commitment Declines ', 'summary' => 'March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. According to the Department of Industry, foreign investment commitment worth Rs 25.31 billion has been made in the first seven months of the current fiscal year, which is Rs 3.15 billion less than the corresponding period of the previous fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The foreign investment commitment in the first seven months of the last fiscal year was Rs 28.46 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Last year, the department approved investments from 15 countries, but this year it has approved investments from 13 countries. During the review period of current FY, China has pledged foreign investment commitment of Rs 18.16 billion, which is 71 percent of the total commitment. Chinese investors have granted permission to invest for the establishment of 105 different industries. The department has been informed that 3,081 people will get employment after the establishment of these industries. Lately, China has become the largest investor in Nepal's industrial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Director General of the Department, Jiv Lal Bhusal, said that Chinese investment has been increasing in the last few years. “Even during the coronavirus pandemic this year, China has made more investment commitments than the previous year,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He said that although some of the commitments were reduced due to the pandemic, the commitment to industrial sector has not been significantly affected this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the department, investment worth Rs 17.29 billion was approved from China in the corresponding period of last fiscal year. China has committed to investing in sectors such as tourism, industry, and agriculture, the department said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">India is another major investor after China. During this period, the department has approved investment of Rs 3.86 billion from India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitment made by India in the first seven months of last FY was Rs 2.93 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the third most investment commitment that the country received this year is England with Rs 3 billion, the fourth from Singapore with Rs 1.65 billion and America in the fifth with Rs 1.57 billion commitment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitments in the industrial sector have also been received from Malaysia, Belgium, Mexico, Poland, South Korea, the Netherlands and the United Kingdom. According to Bhusal, the country has received the investment commitment in tourism, information and communication and energy sectors during this period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12902', 'image' => '20210312011313_20170512120504_co.jpg', 'article_date' => '2021-03-12 13:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13155', 'article_category_id' => '1', 'title' => 'Preparations Underway to Establish New Non-life Insurance Company', 'sub_title' => '', 'summary' => 'March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The Insurance Board had stopped issuing license to both life insurance companies and non life insurance companies some three years ago. However, Shreeman Karki, former executive director of the Insurance Board, is preparing to establish a new non-life insurance company named Genuine Non-Life Insurance Company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The proposed company will have a capital of Rs 1 billion. Forty percent of the capital, amounting to Rs 400 million, will be owned by private sector. Listed companies and the public will have share ownership of 30 percent each amounting to Rs 300 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The company is preparing to issue IPO after it starts operation, informed Karki. The private sector has already pledged an investment up to Rs 400 million, said Karki. Listed companies have been notified of the investment proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Karki said that the company has given priority to small investors instead of big ones. Companies can make investment ranging from Rs 100,000 to Rs 10 million. “We have prepared investment modality preferring small investors and investment has been collected accordingly,” said Karki, adding, “This model has been adopted to set an example of establishing a big company from small ones.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The preparation to establish the company is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">“The Insurance Board has decided not to issue a new license but we will try to convince it with our proposal and register the company,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"> “The new company will particularly focus on health insurance as it has been disregarded by other insurance companies. We expect to earn profit gradually after few years of establishment,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Along with the health insurance, the company aims to focus on agriculture insurance, and has plans to make payment cashless and make health insurance claims hassle-free.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12901', 'image' => '20210312125256_20200223013317_aaaa.jpg', 'article_date' => '2021-03-12 12:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13154', 'article_category_id' => '1', 'title' => ' BP Highway Being Repaired ', 'sub_title' => '', 'summary' => 'March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. According to the state-owned national news agency RSS, overlay will be carried out on the road section constructed by the Japanese International Cooperation Agency (JICA). </span><br /> <span style="font-family:"Arial Unicode MS"">The Dhulikhel-Sindhuli-Bardibas Road Project informed that the maintenance of around 100-km of the road will be done in this fiscal year. Project Chief Surya Bahadur Bhatt said, "Although regular and occasion maintenances were conducted earlier too, the overlay is being done this year. The road is being repaired in a large scale." </span><br /> <span style="font-family:"Arial Unicode MS"">Nepali labours are employed in most of the sections for repair. In addition to the money collected with road tax by Roads Board Nepal, the maintenance is being carried out with the financial assistance of the World Bank, Bhatt added. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the overlay has been on the 5-km long Nepalthok-Dhulikhel section. Similarly, the plan is afoot to overlay 35-km Chiyabari section of Khurkot, Sindhuli. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that single surface tracing has been complete along 10-km length from Nepalthok to Dhulikhel. Contract for 20-km overlay from Nepalthok to Khurkot has been signed, but the overlay will be completed only next year. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the repair is ongoing at 5-km Bhakundebensi section, RSS reported citing the project. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12900', 'image' => '20210312104507_20210128070713_IMG_2102.JPG', 'article_date' => '2021-03-12 10:43:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13153', 'article_category_id' => '1', 'title' => 'Preparations being made to Establish Women’s Industrial Village ', 'sub_title' => '', 'summary' => 'March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Under this initiative, a ‘Women’s Entrepreneurs Green Rural Area’ is being established in Panchkhal, Kavrepalanchok in collaboration with the central and local governments. For the first time in Nepal, Women’s Industrial Village is being established to develop women entrepreneurship institutionally. The land has been leased for 30 years in Panchkhal on the initiative of various women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Pramila Rijal, a woman entrepreneur and chairperson of the South Asian Women Development Forum (SAWDF), said that the detailed project report (DPR) for the establishment of the industrial village is being prepared. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">She further informed that the industrial village will be operational within two years and 12 industries will be established there. Industries run solely be women will focus on agricultural production, fruit production and processing. Preparations have also been made to bring new technology, training, and online marketing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Even if the priority is given to local women, those who want to set up enterprises and industries will also be able to participate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that there is more potential in the agricultural sector in Nepal, she said that the industrial village targeting women entrepreneurs is being established for the first time in the country. "Agriculture is always needed. We can commercialize its products and take them to the market," she said, adding, “Billions of rupees have been spent on importing these goods, so it is necessary to replace them and become self-reliant.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs say that the implementation of such scheme in Nepal can help in the development of women entrepreneurship and make women financially self-reliant as such concepts have been found to have supported the development of women entrepreneurship in India as well. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The government has already declared 58 industrial villages across the country since the last fiscal year to create employment by operating micro, cottage and small scale industries through local resources, raw materials, technology, skills and investment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that the productivity can be increased by integrating and managing the scattered small scale industries, the government has been declaring industrial villages. It has been said that such villages are being established targeting only women to develop women entrepreneurship, ease their economic condition and increase production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12899', 'image' => '20210311022059_1615417848.11.jpg', 'article_date' => '2021-03-11 14:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13152', 'article_category_id' => '1', 'title' => 'Handover of Khimti Hydropower Project Lingers on', 'sub_title' => '', 'summary' => 'March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August after the two sides could not reach an understanding regarding the handover of the project to the government within the previous deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The two sides had earlier reached a short-term understanding to continue operating the project although the share transfer process could not take place. The previous agreement expired in mid-February.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of NEA Hitendra Dev Shakya confirmed that the interim agreement has been extended until mid-August. The interim agreement has a provision under which NEA will be allowed to purchase power from the company at Rs 2 per unit although the Power Purchase Agreement (PPA) with the company expired during last July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This is the first hydropower company that is about to be handed over to the government by the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement between the Government of Nepal and the promoter company, 50 percent shares of the company should have been transferred to the government by July 11 last year. However, the deadline was extended till mid-February and again till mid-August as the share transfer process could not be completed within the stipulated date. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The project which is being run by Himal Power Company since July 2000 is the first hydropower project built with investment from the private sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The then government had signed an agreement with the developers to transfer 50 percent of shares to the government after 20 years of operation. The project reached the milestone of generating electricity for 20 years on July 11 last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement, the NEA will own 100 percent shares of the project in the next 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">For the completion of share transfer process, stakeholders including the NEA and the promoters of the project should establish a joint venture. Then the new entity will have to finalize the Power Purchasing Agreement (PPA) with the NEA. However, the joint venture company is yet to be established and the issue of PPA is also pending.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12898', 'image' => '20210311123540_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-03-11 12:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13151', 'article_category_id' => '1', 'title' => 'Residents of Kathmandu to get Water from Melamchi at their Households Soon', 'sub_title' => '', 'summary' => 'March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Kathmandu Upatyaka Khanepani Limited (KUKL) has made a plan to distribute drinking water from the fourth week of March. The ongoing tunnel test may take additional 2-3 months to complete the entire task. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KUKL In-charge Milan Shakya shared that testing of water processing center would be undertaken after the completion of the tunnel test. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Water will be channelized to both new and old ponds after the completion of test of the center. The water channelized to the new ponds would be used to test supply pipes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"The water channelized to the old ponds would be distributed to the people through old pipes," he shakya. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Melamchi Water Supply Project, water would be channelized to nine newly-constructed ponds and the six existing ponds for the distribution of Melamchi water in Kathmandu Valley. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12897', 'image' => '20210311104831_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-03-11 10:47:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13150', 'article_category_id' => '1', 'title' => ' Seven Containers of Goods Entering Nepal from China Border Points Daily ', 'sub_title' => '', 'summary' => 'March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. </span><br /> <span style="font-family:"Arial Unicode MS"">Seven containers of goods have been imported daily from the border points with China with the resumption of the transit points, the state-owned national news agency RSS reported citing the concerned customs offices. Goods from readymade clothes to construction materials are being imported from Tatopani Customs Office, Sindhupalchowk, and Rasuwagadhi Customs Office in recent days, according to RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of Rasuwa Customs Office, Ram Prasad Regmi, said that seven container goods are being imported everyday with the resumption of the border points., "Although all staff working at border points have inoculated vaccine against COVID-19, there is no smooth import of goods due to obstruction towards the Chinese side," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">There is still obstruction towards the Chinese side even after Rasuwa district has become coronavirus free district since two months, added Regmi. </span><br /> <span style="font-family:"Arial Unicode MS"">The border point, which was closed for a long time due to coronavirus, has come into one-way operation from November, 2020. </span><br /> <span style="font-family:"Arial Unicode MS"">Similarly, Chief of Tatopani Customs Office, Lal Bahadur Khatri, shared that seven containers have been entering Nepal everyday via the border point, adding that out of seven containers, five containers are carrying chemical fertilizer. </span><br /> <span style="font-family:"Arial Unicode MS"">Tatopani border point, closed since a long time, had resumed from October 29, 2020. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:"Arial Unicode MS"">Export at Standstill </span></strong><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill despite some import from Rasuwagadhi and Tatopani border points. Export from Rasuwagadhi border point, which has been halted since the last Chinese New Year, has not resumed yet. </span><br /> <span style="font-family:"Arial Unicode MS"">Regmi added, "Though we have taken efforts for resumption of export time and again, it has remained halted for the past one year as Chinese side did not pay any interest towards it." </span><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill at Rasuwagadhi border point from one year and Tatopani border point since the catastrophic earthquakes of 2015. </span><br /> <span style="font-family:"Arial Unicode MS"">-</span></span></span></p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12896', 'image' => '20210310035632_20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2021-03-10 15:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13149', 'article_category_id' => '1', 'title' => 'Government Mulls Sending Workers to Qatar on G2G Model ', 'sub_title' => '', 'summary' => 'March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The move comes after some manpower companies started running illegal businesses by promising to recruit people in the police force of Qatar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">According to a source at the Ministry of Labor, Employment and Social Security, the government has already started homework to send human resource to Qatar required for the upcoming FIFA World Cup through the G2G model. According to sources, there has been an attempt to hold diplomatic talks with Qatar’s government. But the government has not yet made any formal decision regarding this. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The Ministry of Labor is preparing to send workers on behalf of the government by amending the labor agreement with Qatar. "The ministry is discussing the matter with an expert team soon," a source at the ministry said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">On Sunday, Labor Minister Gauri Shankar Chaudhary had revealed in a program that preparations to send workers to Qatar through the G2G system is underway. He said that the government has discussed the issue with Qatar’s ambassador to Nepal. According to the minister, agents are planning to send millions of people to the Qatar police. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Government investigation has found that agents are taking Nepali nationals to Qatar for job in the police force of the Gulf nations through transit points of India and Sri Lanka. Officials at the ministry say that homework has to be done to adopt the G2G system to reduce such process. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Kumar Dahal, director general of the Department of Foreign Employment, said that although the issue of sending workers through G2G and B2G has not yet been decided, discussions have moved forward in a fast pace and a decision will be taken soon. Foreign employment entrepreneurs have objected to the government's plan to send workers to Qatar through the G2G system. </span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Sujit Shrestha, general secretary of Nepal Foreign Employment Agencies Association, said that there would be strong protest if the G2G agreement is signed. "If the government is going to send workers for employment themselves, why did it give us the license?" he said, adding, "We should be allowed to work.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">He said that the tendency of the government to take over the business was against the law as the entrepreneurs have already prepared the entire infrastructure by investing in this sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The government raided a number of manpower companies a few days ago after finding out that illegal interviews were being taken with the intention of extorting large sums of money. Ministry sources claim that the government has made preparations to send workers themselves after the new revelations. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12895', 'image' => '20210310025801_Flag-Pins-Nepal-Qatar_600x600.jpg', 'article_date' => '2021-03-10 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13163', 'article_category_id' => '1', 'title' => 'Lack of New Vehicles in the Market due to Deteriorating Supply Chain ', 'sub_title' => '', 'summary' => 'March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions. The sales of automobiles remained zero till July last year due to the impact of lockdown imposed since March 24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the demand for two wheelers has tripled since last July, the sales of four wheelers have not been able to improve. However, businessmen say that the demand for four wheelers has also increased after the Dashain festival. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">As the demand for private vehicles has increased unexpectedly, businessmen have been struggling to adjust the supply chain as per the demand. While the demand is increasing, there is a shortage of new vehicles in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although customers are now looking for new vehicles, businessmen have not been able to supply them. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Secretary of Nepal Automobile Dealers Association (NADA) Anup Baral said that the demand for vehicles has increased recently but they have not been able to supply the products as per the demand. He said that there is a shortage of vehicles including Suzuki, Tata, Mahindra and Hyundai in the Nepali market. “There is demand but dealers do not have vehicles,” he said, "There has been no supply for two months." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The demand for economical commercial vehicles has increased in Nepal recently. According to the Customs Department, 1,340 commercial vehicles have been imported in Nepal in the first seven months of the current fiscal year, 58 percent more than the corresponding period last year. However, as per the businessmen, the demand is higher than this figure. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Baral said, "Even though the demand has increased, sales are normal as imports have not been able to meet the demand." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He says that the attraction towards private vehicles has increased and the number of people buying four wheelers has also increased due to increasing liquidity in banks and availability of loan at cheaper interest rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Roopam Shrestha, manager of Sipradi Trading, the official dealer of Tata vehicles for Nepal, says the supply is not good. He said that the company could not send vehicles to Nepal due to the deteriorating cycle of vehicle production in India and increased demand in India as well. "Supply of passenger vehicles is normal, but the supply of commercial vehicles is not able to meet the demand," he said. Meanwhile he informed that currently customers are booking vehicles in advance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Not all parts of vehicles manufactured in India are manufactured in India. As most of the parts are imported from China and some other countries, there is a shortage of parts in India, according to Indian media. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"Even Indian companies have not been able to assemble due to lack of parts," said Kailash Babu Gelal, managing director of G Motors, the official dealer of Renault for Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to him, those who want to buy a vehicle now have to wait for at least two months after booking in advance. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-15', 'modified' => '2021-03-15', 'keywords' => '', 'description' => '', 'sortorder' => '12909', 'image' => '20210315113243_20150914010543_travel-map.jpg', 'article_date' => '2021-03-15 11:32:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13162', 'article_category_id' => '1', 'title' => 'NTB starts Branding Tourist Destinations', 'sub_title' => '', 'summary' => 'March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country. NTB has initiated branding tourist destinations starting from Lumbini, the birthplace of Gautam Buddha. The branding of destinations on the basis of the originality of the place begun on March 12.<br /> Dr Dhananjay Regmi, CEO of NTB, informed that NTB plans to initiate the branding of tourism destinations from Lumbini followed by other destinations. He informed that the concept of destination branding has been put forward to help tourists understand the destination better.<br /> "As any tourist destination has its own identity and specialty, we will continue to include it and brand it," he said, adding that "making Lumbini an attractive destination will help further identify it nationally and internationally."<br /> While branding Lumbini, the board has given priority to Japanese architect Kenjo Tangeko's architect, Brahmi script, Burmese font, and sacred garden and integrated Lumbini's natural beauty, the resounding atmosphere of 'Om Mane Padme Hum’, the pristine city of Prince Siddhartha and The Bodhi tree for the branding.<br /> Similarly, Lumbini's geography, natural beauty, pond, the historic Ashoka pillar, birds, ancient architects, forest, flora, tradition, and beautiful environment have been included in the branding, said Regmi.<br /> Nepal previously branded the entire country under the brand 'Naturally Nepal'.<br /> This time, Lumbini, one of the tourist destinations of Nepal, has been branded with colors, names, and logos to make it known in the international arena. It is believed that this will help in highlighting the importance of Lumbini globally.<br /> As Lumbini is a place of pilgrimage for Buddhists, the board expects to bring in more tourists by branding the place.<br /> More than 1.6 million domestic and about 4 million foreign tourists visit this destination annually. NTB is also preparing to brand Kirtipur and Pokhara.</span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12908', 'image' => '20210314050012_20190113122644_aaaa.jpg', 'article_date' => '2021-03-14 16:58:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13161', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Lacks Representation of Private Sector', 'sub_title' => '', 'summary' => 'March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee plays a vital role in shaping the government’s policy on budget and tax rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Failure to include representative from the private sector in the committee has worried stakeholders who believe that the recommendations made by the committee would now be limited to paper.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee which falls under the Ministry of Finance used to be actively involved in forming government policies. Recently, the committee was made an autonomous body by the government. There is also a provision to include private sector in the committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Former Secretary Mahesh Dahal currrently leads the committee while former Joint Secretary Nirmalhari Adhikari is its member. The remuneration of the chairman and member of the committee was published in Nepal Gazette as well. Salary of the committee chairman and member has been fixed at Rs 65,000 and Rs 60,000 respectively. Other allowances provided to them will be equivalent to that of a first-class government official. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee was formed on the initiative of former Finance Minister Dr Yuba Raj Khatiwada in accordance to the Development Committee Act. The Ministry of Law had put on hold the formation of the committee since a long time arguing that the Ministry of Finance had wanted to form this committee to make political appointments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to an official of law ministry, this committee was formed on the condition of having representation from the private sector. “Alhough the committee is an autonomous body, it is just another sub–committee of MoF without the representation of the private sector,” said Rajendra Malla, senior vice-president of Nepal Chamber of Commerce. “How can we be assured that our recommendations to form policies will be incorporated without our participating?” he questioned. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12907', 'image' => '20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-03-14 13:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13159', 'article_category_id' => '1', 'title' => 'Government ‘Lacks Human Resource’ to Expand Market Monitoring', 'sub_title' => '', 'summary' => 'March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at a programme organised in the capital on Friday, Director General of the Department Prakash Poudel reportedly said daily market monitoring is being conducted by three to four teams. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"We are working to streamline the market as much as possible with our capacity," the state-run national news agency RSS quoted him as saying. </span><br /> <span style="font-family:"Arial Unicode MS"">Poudel however said that lack of human resource is obstructing the expansion of the monitoring work. He pointed out the need for collaboration between the rights activists to alert consumers and the concerned agencies to establish order in the market. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Superintendent of Police at Crime Investigation Division Krishna Prasad Koirala expressed his commitment to work with the department of commerce and district administration offices to stop black marketing. </span><br /> <span style="font-family:"Arial Unicode MS"">Journalist Sagar Pandit stressed on the need to end the tendency of market monitoring only during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS"">Consumer rights activist Prem Lal Maharjan complained about the Consumers Act, 2055 not recognizing the consumer rights workers. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12906', 'image' => '20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-03-14 11:37:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13160', 'article_category_id' => '1', 'title' => 'Govt to Unveil Tourism Recovery Programmes ', 'sub_title' => '', 'summary' => 'March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">Addressing the Third National Home Stay Workshop in Birendranagar, Minister Dhakal stated that the government has been developing a plan of action on tourism revival on the basis of stakeholder participation. He stated that the Ministry is preparing new procedures to uplift tourism sector that has been paralysed by the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">"The most affected sector from coronavirus is tourism. Now, tourism business is reviving. The government will pay due attention for the development of tourism sector in partnership with the private sector," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Dhakal said home stay initiative has contributed to the country's economy. However, a lot more is to be done to attract domestic and foreign tourists with proper publicity of Nepal's diverse culture. </span><br /> <span style="font-family:"Arial Unicode MS"">Minister for Industry, Tourism, Forest and Environment of Karnali Province Nanda Singh Budha stated the relevance of home stay in Karnali on the backdrop that there are no big hotels. </span><br /> <span style="font-family:"Arial Unicode MS"">More than 200 home stay operators from across the country had gathered in the city of Birendranagar for the workshop. – RSS</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12905', 'image' => '20210314122521_20210217044838_20201102015340_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-03-14 12:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13158', 'article_category_id' => '1', 'title' => 'Commercial electric vehicles financing still a new market for financial institutions', 'sub_title' => 'Bank and financial institutions reluctant to finance EVs for public transportation, citing lack of reliable sale market in case of a loan default ', 'summary' => 'March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.', 'content' => '<p><em><strong>Rebati Adhikari</strong></em><br /> March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.<br /> Most of the commercial banks are disbursing loans for purchase of private electric vehicles. But they are wary about financing electric vehicles used in public transportation, as they deem the "segment to be risky".</p> <p>"We have reservations about financing public electric vehicles because of lack of reliable resale market in case of a loan default," said Chandani Shrestha, Head of Retail Lending of Nabil Bank. "We are also worried that most of the electric vehicles that are being imported to provide public transport service are not manufactured by established auto brands. This further enhances the risk factor."</p> <p>In the developed world, more and more countries are replacing public transport powered by fossil fuel with electric vehicles. This not only reduces pollution but lowers the operation cost, as maintenance of electric vehicles is lower than vehicles that operate on petrol or diesel. Nepal is intending to promote the use of public electric vehicles not just to reap these benefits but to make use of surplus electricity once 456-megawatt Upper Tamakoshi Hydroelectric Project starts operation later this fiscal year. As Nepal is bracing for surplus electricity generation, the government has set a target of raising the share of electric vehicles in total vehicles to 50 percent by 2050.</p> <p>Currently, electric vehicles used for public transport are subject to 10 percent import duty and 13 percent value added tax (VAT). These taxes are way lower than 80 percent customs duty and 13 percent VAT that the government levies on imports of petrol or diesel fuelled vehicles used for public transportation in addition to excise duties levied on the vehicles based on their engine capacity.</p> <p>Considering this, it makes a lot of sense to operate electric vehicles to provide public transport service. “But banks are not promoting electric vehicles at all. Neither do they agree to provide lending facility nor do they reject the proposal. They keep on dilly-dallying," said Besh Bahadur Thapa, president of Sundar Yatayat, a private sector electric public transport company, which is operating five electric buses on various routes in Kathmandu valley.</p> <p>Banks generally approve auto loans within two working days after receiving all required documents. Once the loan application is approved, the money is released to purchase the vehicle. "But in the case of electric public vehicles, banks ask us to import the vehicles first. They say they will then assess the situation and see whether loans could be disbursed," said Umesh Raj Shrestha, President of Electric Vehicle Association of Nepal.</p> <p>Although the government has embraced the policy of promoting use of electric vehicles, many banks in Nepal have not formulated a standard to finance electric vehicles used in public transport.</p> <p>“Electric vehicle market is in a nascent stage. So we do not have a separate policy for electric vehicles that are used to provide public transportation service," said Manjita Poudyal, Sukedhara Branch Manager of Himalayan Bank.</p> <p>Most of the commercial banks in Nepal think twice before financing public transport vehicles because of soaring default rate. Many banks have seen their auto loans channeled towards public transport sector turn sour, as owners fled, leaving the banks scrambling to find vehicles which were pledged as collateral.<br /> "EV is indeed the future. But we have a bad experience of default in public transport sector. So, we intend to enter this segment only after carrying out a detailed study,” said a senior official at Everest Bank Limited on condition of anonymity.</p> <p>Because of all these hurdles, the growth of electric public vehicles is extremely low. Around five buses, 35,000 rickshaws and 750 Safa Tempos (clean three-wheelers) are plying on the roads.</p> <p>Nepal Rastra Bank (NRB) has fixed the loan-to-value ratio for electric private vehicles at 80 percent. This means that a bank can provide loan amount up to 80 percent of the valuation of the electric private vehicle.</p> <p>But there is no such provision for electric public vehicles.</p> <p>“Since the government has embraced the plan to expand share of electric vehicles market, it is likely that the government will introduce such provision from the next year,” said Narayan Prasad Pokhrel, Deputy Spokesperson of NRB.</p> <p> </p> ', 'published' => true, 'created' => '2021-03-13', 'modified' => '2021-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '12904', 'image' => '20210313015911_Commercial EVs.jpg', 'article_date' => '2021-03-13 13:50:11', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13157', 'article_category_id' => '1', 'title' => '5 New Medium-Scale Hotels Registered amid Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.<br /> The new hotels have been registered between March 15, 2020 and February 18, 2021. According to the department, the hotels registered with an estimated investment of Rs 1.27 billion will provide employment opportunities to 245 individuals. <br /> Meanwhile, Hotel Mechi Crown, the first five-star hotel of deluxe category in Nepal, opened its service during the time of pandemic on August 18, 2020. The five-star deluxe hotel established with an investment of Rs 1.5 billion commenced its operation when hotels across the country were bearing the brunt of the Covid-19 pandemic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Similarly, Pokhara-based Hotel Shangrila Village and Hotel Landmark have started providing service after acquiring four-star status while two two-star hotels, Hotel Lotus Gems, Bouddha and Hotel Bhadgon Barahisthan, commenced their operation amid the pandemic.<br /> Despite the difficult circumstances caused by Covid-19, the opening of new hotels like the 5-star deluxe Hotel Mechi Crown has made many confused about the reason for the hotel to initiate its operation in such an unprecedented situation. Meanwhile, some estimates that the investors may have done so for the long-term gain.<br /> “Because they are looking at the long-term potential of their projects, they are banking on the resilience of the people and their want to travel and have new experiences. We had the Visit Nepal 2020 Campaign, which was unable to come to fruition but hopefully, we will be able to promote Nepal as a safe and wonderful destination to visit again," Shreejana Rana, president of the Hotel Association of Nepal (HAAN), shared.<br /> However, Binayak Shah, vice president of HAAN, informed that most of the new hotels commenced their operation were in the construction phase before the pandemic started. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"They are opening to use the equipment that is wearing out and to train their staffs. There are no new investments after the outbreak of the pandemic in the hotel sector. There has never been a situation like this in the seven decades-long history of hotel business in Nepal because Covid-19 has affected the entire global tourism. Tourist arrival from our prime source markets including, the US, Europe, and Australia, is still uncertain. It won't return to normalcy for the next two years unless everyone is vaccinated. New investment in hotel is unlikely until things become normal," Shah opines.<br /> Pabitra Karki, executive chairman of Hotel Mechi Crown, in response to queries about opening the hotel during the current crisis, informed that the hotel is currently in the pre-trial phase for testing. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"We had planned to start the operation in April last year. However, we postponed it due to Covid-19. We made the soft launch in August for trial, as we need to pass the requirement for meeting the standards of the 5-star deluxe hotel. We have decided to make the official launch in April after passing the trial," he shared with New Business Age.<br /> The hotel, located in Mechinagar, close to the Indian border, will cater to Indian casino goers, INGO staff, other tourists as well as the locals for marriage ceremonies.<br /> Executive Chairman of Hotel Mechi Crown, Karki, informed that the hotel is slowly picking up pace. "Despite being in the trial phase, we have been receiving an encouraging number of visitors. Our banquets and restaurants are busy hosting locals for various events. It has helped us to keep afloat to manage the operating expenses. Likewise, we are in the final phase of acquiring the license for operating a casino. The situation is encouraging, and we are optimistic for positive business after full-fledged operation," he further said. <br /> In total, 75 percent investment of the hotel is financed by Nepal Investment Bank, while five investors have put in the remaining 25 percent capital. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Investment in hotels was burgeoning in Nepal before the impact of Covid-19. According to the data of the Department of Industries, 29 new large-scale hotel projects got registered between April 2016 and February 2020 with a staggering investment of Rs 28.9 billion.<br /> According to hoteliers, the hotel business is burgeoning in Nepal due to the growth of tourists before Covid-19, the tourism promotion campaign, and the growth of domestic tourism. They also inform that the growth in arrival of foreigners, due to the Visit Nepal 2020 campaign, recognition from Trip Advisor and Lonely Planet, and Nepal's participation in various international tourism trade exhibitions, including ITB Berlin, had encouraged investors to invest in the hotel business.<br /> Covid-19 has impacted every sector and the hotel industry is not an exception. </span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12903', 'image' => '20210312015023_20201223013206_20200504104410_20190511105700_Clipboard37 2.jpg', 'article_date' => '2021-03-12 13:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13156', 'article_category_id' => '1', 'title' => 'China Becoming Largest Investor in Nepal', 'sub_title' => 'Foreign Investment Commitment Declines ', 'summary' => 'March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. According to the Department of Industry, foreign investment commitment worth Rs 25.31 billion has been made in the first seven months of the current fiscal year, which is Rs 3.15 billion less than the corresponding period of the previous fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The foreign investment commitment in the first seven months of the last fiscal year was Rs 28.46 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Last year, the department approved investments from 15 countries, but this year it has approved investments from 13 countries. During the review period of current FY, China has pledged foreign investment commitment of Rs 18.16 billion, which is 71 percent of the total commitment. Chinese investors have granted permission to invest for the establishment of 105 different industries. The department has been informed that 3,081 people will get employment after the establishment of these industries. Lately, China has become the largest investor in Nepal's industrial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Director General of the Department, Jiv Lal Bhusal, said that Chinese investment has been increasing in the last few years. “Even during the coronavirus pandemic this year, China has made more investment commitments than the previous year,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He said that although some of the commitments were reduced due to the pandemic, the commitment to industrial sector has not been significantly affected this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the department, investment worth Rs 17.29 billion was approved from China in the corresponding period of last fiscal year. China has committed to investing in sectors such as tourism, industry, and agriculture, the department said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">India is another major investor after China. During this period, the department has approved investment of Rs 3.86 billion from India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitment made by India in the first seven months of last FY was Rs 2.93 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the third most investment commitment that the country received this year is England with Rs 3 billion, the fourth from Singapore with Rs 1.65 billion and America in the fifth with Rs 1.57 billion commitment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitments in the industrial sector have also been received from Malaysia, Belgium, Mexico, Poland, South Korea, the Netherlands and the United Kingdom. According to Bhusal, the country has received the investment commitment in tourism, information and communication and energy sectors during this period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12902', 'image' => '20210312011313_20170512120504_co.jpg', 'article_date' => '2021-03-12 13:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13155', 'article_category_id' => '1', 'title' => 'Preparations Underway to Establish New Non-life Insurance Company', 'sub_title' => '', 'summary' => 'March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The Insurance Board had stopped issuing license to both life insurance companies and non life insurance companies some three years ago. However, Shreeman Karki, former executive director of the Insurance Board, is preparing to establish a new non-life insurance company named Genuine Non-Life Insurance Company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The proposed company will have a capital of Rs 1 billion. Forty percent of the capital, amounting to Rs 400 million, will be owned by private sector. Listed companies and the public will have share ownership of 30 percent each amounting to Rs 300 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The company is preparing to issue IPO after it starts operation, informed Karki. The private sector has already pledged an investment up to Rs 400 million, said Karki. Listed companies have been notified of the investment proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Karki said that the company has given priority to small investors instead of big ones. Companies can make investment ranging from Rs 100,000 to Rs 10 million. “We have prepared investment modality preferring small investors and investment has been collected accordingly,” said Karki, adding, “This model has been adopted to set an example of establishing a big company from small ones.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The preparation to establish the company is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">“The Insurance Board has decided not to issue a new license but we will try to convince it with our proposal and register the company,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"> “The new company will particularly focus on health insurance as it has been disregarded by other insurance companies. We expect to earn profit gradually after few years of establishment,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Along with the health insurance, the company aims to focus on agriculture insurance, and has plans to make payment cashless and make health insurance claims hassle-free.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12901', 'image' => '20210312125256_20200223013317_aaaa.jpg', 'article_date' => '2021-03-12 12:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13154', 'article_category_id' => '1', 'title' => ' BP Highway Being Repaired ', 'sub_title' => '', 'summary' => 'March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. According to the state-owned national news agency RSS, overlay will be carried out on the road section constructed by the Japanese International Cooperation Agency (JICA). </span><br /> <span style="font-family:"Arial Unicode MS"">The Dhulikhel-Sindhuli-Bardibas Road Project informed that the maintenance of around 100-km of the road will be done in this fiscal year. Project Chief Surya Bahadur Bhatt said, "Although regular and occasion maintenances were conducted earlier too, the overlay is being done this year. The road is being repaired in a large scale." </span><br /> <span style="font-family:"Arial Unicode MS"">Nepali labours are employed in most of the sections for repair. In addition to the money collected with road tax by Roads Board Nepal, the maintenance is being carried out with the financial assistance of the World Bank, Bhatt added. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the overlay has been on the 5-km long Nepalthok-Dhulikhel section. Similarly, the plan is afoot to overlay 35-km Chiyabari section of Khurkot, Sindhuli. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that single surface tracing has been complete along 10-km length from Nepalthok to Dhulikhel. Contract for 20-km overlay from Nepalthok to Khurkot has been signed, but the overlay will be completed only next year. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the repair is ongoing at 5-km Bhakundebensi section, RSS reported citing the project. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12900', 'image' => '20210312104507_20210128070713_IMG_2102.JPG', 'article_date' => '2021-03-12 10:43:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13153', 'article_category_id' => '1', 'title' => 'Preparations being made to Establish Women’s Industrial Village ', 'sub_title' => '', 'summary' => 'March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Under this initiative, a ‘Women’s Entrepreneurs Green Rural Area’ is being established in Panchkhal, Kavrepalanchok in collaboration with the central and local governments. For the first time in Nepal, Women’s Industrial Village is being established to develop women entrepreneurship institutionally. The land has been leased for 30 years in Panchkhal on the initiative of various women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Pramila Rijal, a woman entrepreneur and chairperson of the South Asian Women Development Forum (SAWDF), said that the detailed project report (DPR) for the establishment of the industrial village is being prepared. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">She further informed that the industrial village will be operational within two years and 12 industries will be established there. Industries run solely be women will focus on agricultural production, fruit production and processing. Preparations have also been made to bring new technology, training, and online marketing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Even if the priority is given to local women, those who want to set up enterprises and industries will also be able to participate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that there is more potential in the agricultural sector in Nepal, she said that the industrial village targeting women entrepreneurs is being established for the first time in the country. "Agriculture is always needed. We can commercialize its products and take them to the market," she said, adding, “Billions of rupees have been spent on importing these goods, so it is necessary to replace them and become self-reliant.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs say that the implementation of such scheme in Nepal can help in the development of women entrepreneurship and make women financially self-reliant as such concepts have been found to have supported the development of women entrepreneurship in India as well. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The government has already declared 58 industrial villages across the country since the last fiscal year to create employment by operating micro, cottage and small scale industries through local resources, raw materials, technology, skills and investment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that the productivity can be increased by integrating and managing the scattered small scale industries, the government has been declaring industrial villages. It has been said that such villages are being established targeting only women to develop women entrepreneurship, ease their economic condition and increase production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12899', 'image' => '20210311022059_1615417848.11.jpg', 'article_date' => '2021-03-11 14:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13152', 'article_category_id' => '1', 'title' => 'Handover of Khimti Hydropower Project Lingers on', 'sub_title' => '', 'summary' => 'March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August after the two sides could not reach an understanding regarding the handover of the project to the government within the previous deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The two sides had earlier reached a short-term understanding to continue operating the project although the share transfer process could not take place. The previous agreement expired in mid-February.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of NEA Hitendra Dev Shakya confirmed that the interim agreement has been extended until mid-August. The interim agreement has a provision under which NEA will be allowed to purchase power from the company at Rs 2 per unit although the Power Purchase Agreement (PPA) with the company expired during last July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This is the first hydropower company that is about to be handed over to the government by the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement between the Government of Nepal and the promoter company, 50 percent shares of the company should have been transferred to the government by July 11 last year. However, the deadline was extended till mid-February and again till mid-August as the share transfer process could not be completed within the stipulated date. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The project which is being run by Himal Power Company since July 2000 is the first hydropower project built with investment from the private sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The then government had signed an agreement with the developers to transfer 50 percent of shares to the government after 20 years of operation. The project reached the milestone of generating electricity for 20 years on July 11 last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement, the NEA will own 100 percent shares of the project in the next 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">For the completion of share transfer process, stakeholders including the NEA and the promoters of the project should establish a joint venture. Then the new entity will have to finalize the Power Purchasing Agreement (PPA) with the NEA. However, the joint venture company is yet to be established and the issue of PPA is also pending.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12898', 'image' => '20210311123540_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-03-11 12:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13151', 'article_category_id' => '1', 'title' => 'Residents of Kathmandu to get Water from Melamchi at their Households Soon', 'sub_title' => '', 'summary' => 'March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Kathmandu Upatyaka Khanepani Limited (KUKL) has made a plan to distribute drinking water from the fourth week of March. The ongoing tunnel test may take additional 2-3 months to complete the entire task. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KUKL In-charge Milan Shakya shared that testing of water processing center would be undertaken after the completion of the tunnel test. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Water will be channelized to both new and old ponds after the completion of test of the center. The water channelized to the new ponds would be used to test supply pipes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"The water channelized to the old ponds would be distributed to the people through old pipes," he shakya. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Melamchi Water Supply Project, water would be channelized to nine newly-constructed ponds and the six existing ponds for the distribution of Melamchi water in Kathmandu Valley. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12897', 'image' => '20210311104831_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-03-11 10:47:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13150', 'article_category_id' => '1', 'title' => ' Seven Containers of Goods Entering Nepal from China Border Points Daily ', 'sub_title' => '', 'summary' => 'March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. </span><br /> <span style="font-family:"Arial Unicode MS"">Seven containers of goods have been imported daily from the border points with China with the resumption of the transit points, the state-owned national news agency RSS reported citing the concerned customs offices. Goods from readymade clothes to construction materials are being imported from Tatopani Customs Office, Sindhupalchowk, and Rasuwagadhi Customs Office in recent days, according to RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of Rasuwa Customs Office, Ram Prasad Regmi, said that seven container goods are being imported everyday with the resumption of the border points., "Although all staff working at border points have inoculated vaccine against COVID-19, there is no smooth import of goods due to obstruction towards the Chinese side," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">There is still obstruction towards the Chinese side even after Rasuwa district has become coronavirus free district since two months, added Regmi. </span><br /> <span style="font-family:"Arial Unicode MS"">The border point, which was closed for a long time due to coronavirus, has come into one-way operation from November, 2020. </span><br /> <span style="font-family:"Arial Unicode MS"">Similarly, Chief of Tatopani Customs Office, Lal Bahadur Khatri, shared that seven containers have been entering Nepal everyday via the border point, adding that out of seven containers, five containers are carrying chemical fertilizer. </span><br /> <span style="font-family:"Arial Unicode MS"">Tatopani border point, closed since a long time, had resumed from October 29, 2020. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:"Arial Unicode MS"">Export at Standstill </span></strong><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill despite some import from Rasuwagadhi and Tatopani border points. Export from Rasuwagadhi border point, which has been halted since the last Chinese New Year, has not resumed yet. </span><br /> <span style="font-family:"Arial Unicode MS"">Regmi added, "Though we have taken efforts for resumption of export time and again, it has remained halted for the past one year as Chinese side did not pay any interest towards it." </span><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill at Rasuwagadhi border point from one year and Tatopani border point since the catastrophic earthquakes of 2015. </span><br /> <span style="font-family:"Arial Unicode MS"">-</span></span></span></p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12896', 'image' => '20210310035632_20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2021-03-10 15:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13149', 'article_category_id' => '1', 'title' => 'Government Mulls Sending Workers to Qatar on G2G Model ', 'sub_title' => '', 'summary' => 'March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The move comes after some manpower companies started running illegal businesses by promising to recruit people in the police force of Qatar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">According to a source at the Ministry of Labor, Employment and Social Security, the government has already started homework to send human resource to Qatar required for the upcoming FIFA World Cup through the G2G model. According to sources, there has been an attempt to hold diplomatic talks with Qatar’s government. But the government has not yet made any formal decision regarding this. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The Ministry of Labor is preparing to send workers on behalf of the government by amending the labor agreement with Qatar. "The ministry is discussing the matter with an expert team soon," a source at the ministry said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">On Sunday, Labor Minister Gauri Shankar Chaudhary had revealed in a program that preparations to send workers to Qatar through the G2G system is underway. He said that the government has discussed the issue with Qatar’s ambassador to Nepal. According to the minister, agents are planning to send millions of people to the Qatar police. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Government investigation has found that agents are taking Nepali nationals to Qatar for job in the police force of the Gulf nations through transit points of India and Sri Lanka. Officials at the ministry say that homework has to be done to adopt the G2G system to reduce such process. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Kumar Dahal, director general of the Department of Foreign Employment, said that although the issue of sending workers through G2G and B2G has not yet been decided, discussions have moved forward in a fast pace and a decision will be taken soon. Foreign employment entrepreneurs have objected to the government's plan to send workers to Qatar through the G2G system. </span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Sujit Shrestha, general secretary of Nepal Foreign Employment Agencies Association, said that there would be strong protest if the G2G agreement is signed. "If the government is going to send workers for employment themselves, why did it give us the license?" he said, adding, "We should be allowed to work.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">He said that the tendency of the government to take over the business was against the law as the entrepreneurs have already prepared the entire infrastructure by investing in this sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The government raided a number of manpower companies a few days ago after finding out that illegal interviews were being taken with the intention of extorting large sums of money. Ministry sources claim that the government has made preparations to send workers themselves after the new revelations. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12895', 'image' => '20210310025801_Flag-Pins-Nepal-Qatar_600x600.jpg', 'article_date' => '2021-03-10 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 15: Demand for private vehicles has increased significantly after the government lifted lockdown and eased restrictions. The sales of automobiles remained zero till July last year due to the impact of lockdown imposed since March 24. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although the demand for two wheelers has tripled since last July, the sales of four wheelers have not been able to improve. However, businessmen say that the demand for four wheelers has also increased after the Dashain festival. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">As the demand for private vehicles has increased unexpectedly, businessmen have been struggling to adjust the supply chain as per the demand. While the demand is increasing, there is a shortage of new vehicles in the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Although customers are now looking for new vehicles, businessmen have not been able to supply them. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Secretary of Nepal Automobile Dealers Association (NADA) Anup Baral said that the demand for vehicles has increased recently but they have not been able to supply the products as per the demand. He said that there is a shortage of vehicles including Suzuki, Tata, Mahindra and Hyundai in the Nepali market. “There is demand but dealers do not have vehicles,” he said, "There has been no supply for two months." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The demand for economical commercial vehicles has increased in Nepal recently. According to the Customs Department, 1,340 commercial vehicles have been imported in Nepal in the first seven months of the current fiscal year, 58 percent more than the corresponding period last year. However, as per the businessmen, the demand is higher than this figure. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Baral said, "Even though the demand has increased, sales are normal as imports have not been able to meet the demand." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">He says that the attraction towards private vehicles has increased and the number of people buying four wheelers has also increased due to increasing liquidity in banks and availability of loan at cheaper interest rates. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Roopam Shrestha, manager of Sipradi Trading, the official dealer of Tata vehicles for Nepal, says the supply is not good. He said that the company could not send vehicles to Nepal due to the deteriorating cycle of vehicle production in India and increased demand in India as well. "Supply of passenger vehicles is normal, but the supply of commercial vehicles is not able to meet the demand," he said. Meanwhile he informed that currently customers are booking vehicles in advance. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Not all parts of vehicles manufactured in India are manufactured in India. As most of the parts are imported from China and some other countries, there is a shortage of parts in India, according to Indian media. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">"Even Indian companies have not been able to assemble due to lack of parts," said Kailash Babu Gelal, managing director of G Motors, the official dealer of Renault for Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to him, those who want to buy a vehicle now have to wait for at least two months after booking in advance. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-15', 'modified' => '2021-03-15', 'keywords' => '', 'description' => '', 'sortorder' => '12909', 'image' => '20210315113243_20150914010543_travel-map.jpg', 'article_date' => '2021-03-15 11:32:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13162', 'article_category_id' => '1', 'title' => 'NTB starts Branding Tourist Destinations', 'sub_title' => '', 'summary' => 'March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">March 14: Nepal Tourism Board (NTB) has started working on branding various tourist destinations in the country. NTB has initiated branding tourist destinations starting from Lumbini, the birthplace of Gautam Buddha. The branding of destinations on the basis of the originality of the place begun on March 12.<br /> Dr Dhananjay Regmi, CEO of NTB, informed that NTB plans to initiate the branding of tourism destinations from Lumbini followed by other destinations. He informed that the concept of destination branding has been put forward to help tourists understand the destination better.<br /> "As any tourist destination has its own identity and specialty, we will continue to include it and brand it," he said, adding that "making Lumbini an attractive destination will help further identify it nationally and internationally."<br /> While branding Lumbini, the board has given priority to Japanese architect Kenjo Tangeko's architect, Brahmi script, Burmese font, and sacred garden and integrated Lumbini's natural beauty, the resounding atmosphere of 'Om Mane Padme Hum’, the pristine city of Prince Siddhartha and The Bodhi tree for the branding.<br /> Similarly, Lumbini's geography, natural beauty, pond, the historic Ashoka pillar, birds, ancient architects, forest, flora, tradition, and beautiful environment have been included in the branding, said Regmi.<br /> Nepal previously branded the entire country under the brand 'Naturally Nepal'.<br /> This time, Lumbini, one of the tourist destinations of Nepal, has been branded with colors, names, and logos to make it known in the international arena. It is believed that this will help in highlighting the importance of Lumbini globally.<br /> As Lumbini is a place of pilgrimage for Buddhists, the board expects to bring in more tourists by branding the place.<br /> More than 1.6 million domestic and about 4 million foreign tourists visit this destination annually. NTB is also preparing to brand Kirtipur and Pokhara.</span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12908', 'image' => '20210314050012_20190113122644_aaaa.jpg', 'article_date' => '2021-03-14 16:58:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13161', 'article_category_id' => '1', 'title' => 'Revenue Advisory Committee Lacks Representation of Private Sector', 'sub_title' => '', 'summary' => 'March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 14: The government has not included any representatives from the private sector in the Revenue Advisory Development Committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee plays a vital role in shaping the government’s policy on budget and tax rate.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Failure to include representative from the private sector in the committee has worried stakeholders who believe that the recommendations made by the committee would now be limited to paper.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee which falls under the Ministry of Finance used to be actively involved in forming government policies. Recently, the committee was made an autonomous body by the government. There is also a provision to include private sector in the committee.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Former Secretary Mahesh Dahal currrently leads the committee while former Joint Secretary Nirmalhari Adhikari is its member. The remuneration of the chairman and member of the committee was published in Nepal Gazette as well. Salary of the committee chairman and member has been fixed at Rs 65,000 and Rs 60,000 respectively. Other allowances provided to them will be equivalent to that of a first-class government official. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The committee was formed on the initiative of former Finance Minister Dr Yuba Raj Khatiwada in accordance to the Development Committee Act. The Ministry of Law had put on hold the formation of the committee since a long time arguing that the Ministry of Finance had wanted to form this committee to make political appointments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to an official of law ministry, this committee was formed on the condition of having representation from the private sector. “Alhough the committee is an autonomous body, it is just another sub–committee of MoF without the representation of the private sector,” said Rajendra Malla, senior vice-president of Nepal Chamber of Commerce. “How can we be assured that our recommendations to form policies will be incorporated without our participating?” he questioned. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12907', 'image' => '20210314014808_20190408115552_20160717125003_finance-ministy.jpg', 'article_date' => '2021-03-14 13:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13159', 'article_category_id' => '1', 'title' => 'Government ‘Lacks Human Resource’ to Expand Market Monitoring', 'sub_title' => '', 'summary' => 'March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: The Department of Commerce, Supplies and Consumer Protection has said that it has always been working to make business and trade activities fair, transparent and competitive. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at a programme organised in the capital on Friday, Director General of the Department Prakash Poudel reportedly said daily market monitoring is being conducted by three to four teams. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">"We are working to streamline the market as much as possible with our capacity," the state-run national news agency RSS quoted him as saying. </span><br /> <span style="font-family:"Arial Unicode MS"">Poudel however said that lack of human resource is obstructing the expansion of the monitoring work. He pointed out the need for collaboration between the rights activists to alert consumers and the concerned agencies to establish order in the market. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, Superintendent of Police at Crime Investigation Division Krishna Prasad Koirala expressed his commitment to work with the department of commerce and district administration offices to stop black marketing. </span><br /> <span style="font-family:"Arial Unicode MS"">Journalist Sagar Pandit stressed on the need to end the tendency of market monitoring only during the festivals. </span><br /> <span style="font-family:"Arial Unicode MS"">Consumer rights activist Prem Lal Maharjan complained about the Consumers Act, 2055 not recognizing the consumer rights workers. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12906', 'image' => '20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-03-14 11:37:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13160', 'article_category_id' => '1', 'title' => 'Govt to Unveil Tourism Recovery Programmes ', 'sub_title' => '', 'summary' => 'March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 14: Minister for culture, Tourism and Civil Aviation Bhanubhakta Dhakal on Saturday (March 13) said that the government has prioritised tourism recovery programmes for the revival of tourism industry that suffered severely due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">Addressing the Third National Home Stay Workshop in Birendranagar, Minister Dhakal stated that the government has been developing a plan of action on tourism revival on the basis of stakeholder participation. He stated that the Ministry is preparing new procedures to uplift tourism sector that has been paralysed by the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">"The most affected sector from coronavirus is tourism. Now, tourism business is reviving. The government will pay due attention for the development of tourism sector in partnership with the private sector," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Dhakal said home stay initiative has contributed to the country's economy. However, a lot more is to be done to attract domestic and foreign tourists with proper publicity of Nepal's diverse culture. </span><br /> <span style="font-family:"Arial Unicode MS"">Minister for Industry, Tourism, Forest and Environment of Karnali Province Nanda Singh Budha stated the relevance of home stay in Karnali on the backdrop that there are no big hotels. </span><br /> <span style="font-family:"Arial Unicode MS"">More than 200 home stay operators from across the country had gathered in the city of Birendranagar for the workshop. – RSS</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-03-14', 'modified' => '2021-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '12905', 'image' => '20210314122521_20210217044838_20201102015340_20201016032657_1602804123.Clipboard13.jpg', 'article_date' => '2021-03-14 12:24:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13158', 'article_category_id' => '1', 'title' => 'Commercial electric vehicles financing still a new market for financial institutions', 'sub_title' => 'Bank and financial institutions reluctant to finance EVs for public transportation, citing lack of reliable sale market in case of a loan default ', 'summary' => 'March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.', 'content' => '<p><em><strong>Rebati Adhikari</strong></em><br /> March 13: Banks and financial institutions are reluctant to finance electric vehicles used for public transportation, as they are relatively newer products and lack resale value.<br /> Most of the commercial banks are disbursing loans for purchase of private electric vehicles. But they are wary about financing electric vehicles used in public transportation, as they deem the "segment to be risky".</p> <p>"We have reservations about financing public electric vehicles because of lack of reliable resale market in case of a loan default," said Chandani Shrestha, Head of Retail Lending of Nabil Bank. "We are also worried that most of the electric vehicles that are being imported to provide public transport service are not manufactured by established auto brands. This further enhances the risk factor."</p> <p>In the developed world, more and more countries are replacing public transport powered by fossil fuel with electric vehicles. This not only reduces pollution but lowers the operation cost, as maintenance of electric vehicles is lower than vehicles that operate on petrol or diesel. Nepal is intending to promote the use of public electric vehicles not just to reap these benefits but to make use of surplus electricity once 456-megawatt Upper Tamakoshi Hydroelectric Project starts operation later this fiscal year. As Nepal is bracing for surplus electricity generation, the government has set a target of raising the share of electric vehicles in total vehicles to 50 percent by 2050.</p> <p>Currently, electric vehicles used for public transport are subject to 10 percent import duty and 13 percent value added tax (VAT). These taxes are way lower than 80 percent customs duty and 13 percent VAT that the government levies on imports of petrol or diesel fuelled vehicles used for public transportation in addition to excise duties levied on the vehicles based on their engine capacity.</p> <p>Considering this, it makes a lot of sense to operate electric vehicles to provide public transport service. “But banks are not promoting electric vehicles at all. Neither do they agree to provide lending facility nor do they reject the proposal. They keep on dilly-dallying," said Besh Bahadur Thapa, president of Sundar Yatayat, a private sector electric public transport company, which is operating five electric buses on various routes in Kathmandu valley.</p> <p>Banks generally approve auto loans within two working days after receiving all required documents. Once the loan application is approved, the money is released to purchase the vehicle. "But in the case of electric public vehicles, banks ask us to import the vehicles first. They say they will then assess the situation and see whether loans could be disbursed," said Umesh Raj Shrestha, President of Electric Vehicle Association of Nepal.</p> <p>Although the government has embraced the policy of promoting use of electric vehicles, many banks in Nepal have not formulated a standard to finance electric vehicles used in public transport.</p> <p>“Electric vehicle market is in a nascent stage. So we do not have a separate policy for electric vehicles that are used to provide public transportation service," said Manjita Poudyal, Sukedhara Branch Manager of Himalayan Bank.</p> <p>Most of the commercial banks in Nepal think twice before financing public transport vehicles because of soaring default rate. Many banks have seen their auto loans channeled towards public transport sector turn sour, as owners fled, leaving the banks scrambling to find vehicles which were pledged as collateral.<br /> "EV is indeed the future. But we have a bad experience of default in public transport sector. So, we intend to enter this segment only after carrying out a detailed study,” said a senior official at Everest Bank Limited on condition of anonymity.</p> <p>Because of all these hurdles, the growth of electric public vehicles is extremely low. Around five buses, 35,000 rickshaws and 750 Safa Tempos (clean three-wheelers) are plying on the roads.</p> <p>Nepal Rastra Bank (NRB) has fixed the loan-to-value ratio for electric private vehicles at 80 percent. This means that a bank can provide loan amount up to 80 percent of the valuation of the electric private vehicle.</p> <p>But there is no such provision for electric public vehicles.</p> <p>“Since the government has embraced the plan to expand share of electric vehicles market, it is likely that the government will introduce such provision from the next year,” said Narayan Prasad Pokhrel, Deputy Spokesperson of NRB.</p> <p> </p> ', 'published' => true, 'created' => '2021-03-13', 'modified' => '2021-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '12904', 'image' => '20210313015911_Commercial EVs.jpg', 'article_date' => '2021-03-13 13:50:11', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13157', 'article_category_id' => '1', 'title' => '5 New Medium-Scale Hotels Registered amid Covid-19 Pandemic', 'sub_title' => '', 'summary' => 'March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria">Tamish Giri</span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">March 12: The Department of Industries (DoI) received applications to register five small-scale hotels after the outbreak of the Covid-19 pandemic.<br /> The new hotels have been registered between March 15, 2020 and February 18, 2021. According to the department, the hotels registered with an estimated investment of Rs 1.27 billion will provide employment opportunities to 245 individuals. <br /> Meanwhile, Hotel Mechi Crown, the first five-star hotel of deluxe category in Nepal, opened its service during the time of pandemic on August 18, 2020. The five-star deluxe hotel established with an investment of Rs 1.5 billion commenced its operation when hotels across the country were bearing the brunt of the Covid-19 pandemic. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Similarly, Pokhara-based Hotel Shangrila Village and Hotel Landmark have started providing service after acquiring four-star status while two two-star hotels, Hotel Lotus Gems, Bouddha and Hotel Bhadgon Barahisthan, commenced their operation amid the pandemic.<br /> Despite the difficult circumstances caused by Covid-19, the opening of new hotels like the 5-star deluxe Hotel Mechi Crown has made many confused about the reason for the hotel to initiate its operation in such an unprecedented situation. Meanwhile, some estimates that the investors may have done so for the long-term gain.<br /> “Because they are looking at the long-term potential of their projects, they are banking on the resilience of the people and their want to travel and have new experiences. We had the Visit Nepal 2020 Campaign, which was unable to come to fruition but hopefully, we will be able to promote Nepal as a safe and wonderful destination to visit again," Shreejana Rana, president of the Hotel Association of Nepal (HAAN), shared.<br /> However, Binayak Shah, vice president of HAAN, informed that most of the new hotels commenced their operation were in the construction phase before the pandemic started. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"They are opening to use the equipment that is wearing out and to train their staffs. There are no new investments after the outbreak of the pandemic in the hotel sector. There has never been a situation like this in the seven decades-long history of hotel business in Nepal because Covid-19 has affected the entire global tourism. Tourist arrival from our prime source markets including, the US, Europe, and Australia, is still uncertain. It won't return to normalcy for the next two years unless everyone is vaccinated. New investment in hotel is unlikely until things become normal," Shah opines.<br /> Pabitra Karki, executive chairman of Hotel Mechi Crown, in response to queries about opening the hotel during the current crisis, informed that the hotel is currently in the pre-trial phase for testing. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">"We had planned to start the operation in April last year. However, we postponed it due to Covid-19. We made the soft launch in August for trial, as we need to pass the requirement for meeting the standards of the 5-star deluxe hotel. We have decided to make the official launch in April after passing the trial," he shared with New Business Age.<br /> The hotel, located in Mechinagar, close to the Indian border, will cater to Indian casino goers, INGO staff, other tourists as well as the locals for marriage ceremonies.<br /> Executive Chairman of Hotel Mechi Crown, Karki, informed that the hotel is slowly picking up pace. "Despite being in the trial phase, we have been receiving an encouraging number of visitors. Our banquets and restaurants are busy hosting locals for various events. It has helped us to keep afloat to manage the operating expenses. Likewise, we are in the final phase of acquiring the license for operating a casino. The situation is encouraging, and we are optimistic for positive business after full-fledged operation," he further said. <br /> In total, 75 percent investment of the hotel is financed by Nepal Investment Bank, while five investors have put in the remaining 25 percent capital. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria">Investment in hotels was burgeoning in Nepal before the impact of Covid-19. According to the data of the Department of Industries, 29 new large-scale hotel projects got registered between April 2016 and February 2020 with a staggering investment of Rs 28.9 billion.<br /> According to hoteliers, the hotel business is burgeoning in Nepal due to the growth of tourists before Covid-19, the tourism promotion campaign, and the growth of domestic tourism. They also inform that the growth in arrival of foreigners, due to the Visit Nepal 2020 campaign, recognition from Trip Advisor and Lonely Planet, and Nepal's participation in various international tourism trade exhibitions, including ITB Berlin, had encouraged investors to invest in the hotel business.<br /> Covid-19 has impacted every sector and the hotel industry is not an exception. </span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12903', 'image' => '20210312015023_20201223013206_20200504104410_20190511105700_Clipboard37 2.jpg', 'article_date' => '2021-03-12 13:48:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13156', 'article_category_id' => '1', 'title' => 'China Becoming Largest Investor in Nepal', 'sub_title' => 'Foreign Investment Commitment Declines ', 'summary' => 'March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">March 12: The commitment for foreign investment to the industrial sector of the country has declined in the current fiscal year. According to the Department of Industry, foreign investment commitment worth Rs 25.31 billion has been made in the first seven months of the current fiscal year, which is Rs 3.15 billion less than the corresponding period of the previous fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">The foreign investment commitment in the first seven months of the last fiscal year was Rs 28.46 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Last year, the department approved investments from 15 countries, but this year it has approved investments from 13 countries. During the review period of current FY, China has pledged foreign investment commitment of Rs 18.16 billion, which is 71 percent of the total commitment. Chinese investors have granted permission to invest for the establishment of 105 different industries. The department has been informed that 3,081 people will get employment after the establishment of these industries. Lately, China has become the largest investor in Nepal's industrial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Director General of the Department, Jiv Lal Bhusal, said that Chinese investment has been increasing in the last few years. “Even during the coronavirus pandemic this year, China has made more investment commitments than the previous year,” he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">He said that although some of the commitments were reduced due to the pandemic, the commitment to industrial sector has not been significantly affected this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">According to the department, investment worth Rs 17.29 billion was approved from China in the corresponding period of last fiscal year. China has committed to investing in sectors such as tourism, industry, and agriculture, the department said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">India is another major investor after China. During this period, the department has approved investment of Rs 3.86 billion from India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitment made by India in the first seven months of last FY was Rs 2.93 billion. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Similarly, the third most investment commitment that the country received this year is England with Rs 3 billion, the fourth from Singapore with Rs 1.65 billion and America in the fifth with Rs 1.57 billion commitment. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"><span style="font-family:"Times New Roman"">Investment commitments in the industrial sector have also been received from Malaysia, Belgium, Mexico, Poland, South Korea, the Netherlands and the United Kingdom. According to Bhusal, the country has received the investment commitment in tourism, information and communication and energy sectors during this period. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12902', 'image' => '20210312011313_20170512120504_co.jpg', 'article_date' => '2021-03-12 13:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13155', 'article_category_id' => '1', 'title' => 'Preparations Underway to Establish New Non-life Insurance Company', 'sub_title' => '', 'summary' => 'March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri">March 12: Preparations are underway to establish a new non-life insurance company by a former executive director of the Insurance Board although the board had announced to stop issuing license to new insurance companies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The Insurance Board had stopped issuing license to both life insurance companies and non life insurance companies some three years ago. However, Shreeman Karki, former executive director of the Insurance Board, is preparing to establish a new non-life insurance company named Genuine Non-Life Insurance Company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The proposed company will have a capital of Rs 1 billion. Forty percent of the capital, amounting to Rs 400 million, will be owned by private sector. Listed companies and the public will have share ownership of 30 percent each amounting to Rs 300 million. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The company is preparing to issue IPO after it starts operation, informed Karki. The private sector has already pledged an investment up to Rs 400 million, said Karki. Listed companies have been notified of the investment proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Karki said that the company has given priority to small investors instead of big ones. Companies can make investment ranging from Rs 100,000 to Rs 10 million. “We have prepared investment modality preferring small investors and investment has been collected accordingly,” said Karki, adding, “This model has been adopted to set an example of establishing a big company from small ones.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">The preparation to establish the company is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">“The Insurance Board has decided not to issue a new license but we will try to convince it with our proposal and register the company,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri"> “The new company will particularly focus on health insurance as it has been disregarded by other insurance companies. We expect to earn profit gradually after few years of establishment,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri">Along with the health insurance, the company aims to focus on agriculture insurance, and has plans to make payment cashless and make health insurance claims hassle-free.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12901', 'image' => '20210312125256_20200223013317_aaaa.jpg', 'article_date' => '2021-03-12 12:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13154', 'article_category_id' => '1', 'title' => ' BP Highway Being Repaired ', 'sub_title' => '', 'summary' => 'March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 12: Six years after the handover of the BP Highway, various parts of the Dhulikhel-Sindhuli-Bardibas section of the highway are getting repaired. According to the state-owned national news agency RSS, overlay will be carried out on the road section constructed by the Japanese International Cooperation Agency (JICA). </span><br /> <span style="font-family:"Arial Unicode MS"">The Dhulikhel-Sindhuli-Bardibas Road Project informed that the maintenance of around 100-km of the road will be done in this fiscal year. Project Chief Surya Bahadur Bhatt said, "Although regular and occasion maintenances were conducted earlier too, the overlay is being done this year. The road is being repaired in a large scale." </span><br /> <span style="font-family:"Arial Unicode MS"">Nepali labours are employed in most of the sections for repair. In addition to the money collected with road tax by Roads Board Nepal, the maintenance is being carried out with the financial assistance of the World Bank, Bhatt added. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the overlay has been on the 5-km long Nepalthok-Dhulikhel section. Similarly, the plan is afoot to overlay 35-km Chiyabari section of Khurkot, Sindhuli. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS further reported that single surface tracing has been complete along 10-km length from Nepalthok to Dhulikhel. Contract for 20-km overlay from Nepalthok to Khurkot has been signed, but the overlay will be completed only next year. </span><br /> <span style="font-family:"Arial Unicode MS"">Currently, the repair is ongoing at 5-km Bhakundebensi section, RSS reported citing the project. </span></span></span></p> ', 'published' => true, 'created' => '2021-03-12', 'modified' => '2021-03-12', 'keywords' => '', 'description' => '', 'sortorder' => '12900', 'image' => '20210312104507_20210128070713_IMG_2102.JPG', 'article_date' => '2021-03-12 10:43:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13153', 'article_category_id' => '1', 'title' => 'Preparations being made to Establish Women’s Industrial Village ', 'sub_title' => '', 'summary' => 'March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">March 11: The government had announced to set up industrial villages in different places of all the seven provinces, and has already started preparations to establish industrial villages in 100 ropanis of land targeting women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Under this initiative, a ‘Women’s Entrepreneurs Green Rural Area’ is being established in Panchkhal, Kavrepalanchok in collaboration with the central and local governments. For the first time in Nepal, Women’s Industrial Village is being established to develop women entrepreneurship institutionally. The land has been leased for 30 years in Panchkhal on the initiative of various women entrepreneurs. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Pramila Rijal, a woman entrepreneur and chairperson of the South Asian Women Development Forum (SAWDF), said that the detailed project report (DPR) for the establishment of the industrial village is being prepared. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">She further informed that the industrial village will be operational within two years and 12 industries will be established there. Industries run solely be women will focus on agricultural production, fruit production and processing. Preparations have also been made to bring new technology, training, and online marketing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Even if the priority is given to local women, those who want to set up enterprises and industries will also be able to participate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that there is more potential in the agricultural sector in Nepal, she said that the industrial village targeting women entrepreneurs is being established for the first time in the country. "Agriculture is always needed. We can commercialize its products and take them to the market," she said, adding, “Billions of rupees have been spent on importing these goods, so it is necessary to replace them and become self-reliant.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Entrepreneurs say that the implementation of such scheme in Nepal can help in the development of women entrepreneurship and make women financially self-reliant as such concepts have been found to have supported the development of women entrepreneurship in India as well. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The government has already declared 58 industrial villages across the country since the last fiscal year to create employment by operating micro, cottage and small scale industries through local resources, raw materials, technology, skills and investment. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Stating that the productivity can be increased by integrating and managing the scattered small scale industries, the government has been declaring industrial villages. It has been said that such villages are being established targeting only women to develop women entrepreneurship, ease their economic condition and increase production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12899', 'image' => '20210311022059_1615417848.11.jpg', 'article_date' => '2021-03-11 14:20:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13152', 'article_category_id' => '1', 'title' => 'Handover of Khimti Hydropower Project Lingers on', 'sub_title' => '', 'summary' => 'March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">March 11: Nepal Electricity Authority (NEA) and Himal Power Company, the promoter of the 60-Megawatt Khimti Hydropower Project, have decided to continue operation of the project as per an interim agreement until mid-August after the two sides could not reach an understanding regarding the handover of the project to the government within the previous deadline.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The two sides had earlier reached a short-term understanding to continue operating the project although the share transfer process could not take place. The previous agreement expired in mid-February.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Arial Unicode MS"">Executive Director of NEA Hitendra Dev Shakya confirmed that the interim agreement has been extended until mid-August. The interim agreement has a provision under which NEA will be allowed to purchase power from the company at Rs 2 per unit although the Power Purchase Agreement (PPA) with the company expired during last July.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">This is the first hydropower company that is about to be handed over to the government by the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement between the Government of Nepal and the promoter company, 50 percent shares of the company should have been transferred to the government by July 11 last year. However, the deadline was extended till mid-February and again till mid-August as the share transfer process could not be completed within the stipulated date. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The project which is being run by Himal Power Company since July 2000 is the first hydropower project built with investment from the private sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The then government had signed an agreement with the developers to transfer 50 percent of shares to the government after 20 years of operation. The project reached the milestone of generating electricity for 20 years on July 11 last year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">As per the agreement, the NEA will own 100 percent shares of the project in the next 30 years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">For the completion of share transfer process, stakeholders including the NEA and the promoters of the project should establish a joint venture. Then the new entity will have to finalize the Power Purchasing Agreement (PPA) with the NEA. However, the joint venture company is yet to be established and the issue of PPA is also pending.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12898', 'image' => '20210311123540_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-03-11 12:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13151', 'article_category_id' => '1', 'title' => 'Residents of Kathmandu to get Water from Melamchi at their Households Soon', 'sub_title' => '', 'summary' => 'March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">March 11: With the water from Melamchi arriving in Kathmandu, the capital residents would soon get water at their households. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Kathmandu Upatyaka Khanepani Limited (KUKL) has made a plan to distribute drinking water from the fourth week of March. The ongoing tunnel test may take additional 2-3 months to complete the entire task. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">KUKL In-charge Milan Shakya shared that testing of water processing center would be undertaken after the completion of the tunnel test. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Water will be channelized to both new and old ponds after the completion of test of the center. The water channelized to the new ponds would be used to test supply pipes. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">"The water channelized to the old ponds would be distributed to the people through old pipes," he shakya. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">According to the Melamchi Water Supply Project, water would be channelized to nine newly-constructed ponds and the six existing ponds for the distribution of Melamchi water in Kathmandu Valley. -- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-03-11', 'modified' => '2021-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '12897', 'image' => '20210311104831_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-03-11 10:47:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13150', 'article_category_id' => '1', 'title' => ' Seven Containers of Goods Entering Nepal from China Border Points Daily ', 'sub_title' => '', 'summary' => 'March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">March 10: With the resumption of border points, which were closed due to Chinese New Year, import of goods has increased in a noticeable manner. </span><br /> <span style="font-family:"Arial Unicode MS"">Seven containers of goods have been imported daily from the border points with China with the resumption of the transit points, the state-owned national news agency RSS reported citing the concerned customs offices. Goods from readymade clothes to construction materials are being imported from Tatopani Customs Office, Sindhupalchowk, and Rasuwagadhi Customs Office in recent days, according to RSS. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of Rasuwa Customs Office, Ram Prasad Regmi, said that seven container goods are being imported everyday with the resumption of the border points., "Although all staff working at border points have inoculated vaccine against COVID-19, there is no smooth import of goods due to obstruction towards the Chinese side," he said. </span><br /> <span style="font-family:"Arial Unicode MS"">There is still obstruction towards the Chinese side even after Rasuwa district has become coronavirus free district since two months, added Regmi. </span><br /> <span style="font-family:"Arial Unicode MS"">The border point, which was closed for a long time due to coronavirus, has come into one-way operation from November, 2020. </span><br /> <span style="font-family:"Arial Unicode MS"">Similarly, Chief of Tatopani Customs Office, Lal Bahadur Khatri, shared that seven containers have been entering Nepal everyday via the border point, adding that out of seven containers, five containers are carrying chemical fertilizer. </span><br /> <span style="font-family:"Arial Unicode MS"">Tatopani border point, closed since a long time, had resumed from October 29, 2020. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Cambria"><strong><span style="font-family:"Arial Unicode MS"">Export at Standstill </span></strong><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill despite some import from Rasuwagadhi and Tatopani border points. Export from Rasuwagadhi border point, which has been halted since the last Chinese New Year, has not resumed yet. </span><br /> <span style="font-family:"Arial Unicode MS"">Regmi added, "Though we have taken efforts for resumption of export time and again, it has remained halted for the past one year as Chinese side did not pay any interest towards it." </span><br /> <span style="font-family:"Arial Unicode MS"">Exports have come to a standstill at Rasuwagadhi border point from one year and Tatopani border point since the catastrophic earthquakes of 2015. </span><br /> <span style="font-family:"Arial Unicode MS"">-</span></span></span></p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12896', 'image' => '20210310035632_20200904025150_1599171108.Clipboard04.jpg', 'article_date' => '2021-03-10 15:55:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13149', 'article_category_id' => '1', 'title' => 'Government Mulls Sending Workers to Qatar on G2G Model ', 'sub_title' => '', 'summary' => 'March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">March 10: The government of Nepal has started discussions to send workers to Qatar through the Government to Government (G2G) process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The move comes after some manpower companies started running illegal businesses by promising to recruit people in the police force of Qatar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">According to a source at the Ministry of Labor, Employment and Social Security, the government has already started homework to send human resource to Qatar required for the upcoming FIFA World Cup through the G2G model. According to sources, there has been an attempt to hold diplomatic talks with Qatar’s government. But the government has not yet made any formal decision regarding this. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The Ministry of Labor is preparing to send workers on behalf of the government by amending the labor agreement with Qatar. "The ministry is discussing the matter with an expert team soon," a source at the ministry said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">On Sunday, Labor Minister Gauri Shankar Chaudhary had revealed in a program that preparations to send workers to Qatar through the G2G system is underway. He said that the government has discussed the issue with Qatar’s ambassador to Nepal. According to the minister, agents are planning to send millions of people to the Qatar police. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Government investigation has found that agents are taking Nepali nationals to Qatar for job in the police force of the Gulf nations through transit points of India and Sri Lanka. Officials at the ministry say that homework has to be done to adopt the G2G system to reduce such process. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Kumar Dahal, director general of the Department of Foreign Employment, said that although the issue of sending workers through G2G and B2G has not yet been decided, discussions have moved forward in a fast pace and a decision will be taken soon. Foreign employment entrepreneurs have objected to the government's plan to send workers to Qatar through the G2G system. </span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">Sujit Shrestha, general secretary of Nepal Foreign Employment Agencies Association, said that there would be strong protest if the G2G agreement is signed. "If the government is going to send workers for employment themselves, why did it give us the license?" he said, adding, "We should be allowed to work.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">He said that the tendency of the government to take over the business was against the law as the entrepreneurs have already prepared the entire infrastructure by investing in this sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman""><span style="font-family:Calibri">The government raided a number of manpower companies a few days ago after finding out that illegal interviews were being taken with the intention of extorting large sums of money. Ministry sources claim that the government has made preparations to send workers themselves after the new revelations. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-03-10', 'modified' => '2021-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '12895', 'image' => '20210310025801_Flag-Pins-Nepal-Qatar_600x600.jpg', 'article_date' => '2021-03-10 14:56:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
